Canadian private equity firm Onex Corp and Baring Private Equity Asia have wrapped up their acquisition of the intellectual property and science unit of Thomson Reuters. The deal, announced in July, was valued at US$3.55 billion and included a US$1.6 million equity investment by Onex and Baring Asia. With the closing, the new owners announced the unit would operate as an independent company known as Clarivate Analytics. It will continue to oversee subscription-based businesses focused on scientific and academic research, patent analytics and regulatory standards, life sciences intelligence, trademark protection, domain brand protection and IP management.
Onex and Baring Asia Complete Acquisition of Thomson Reuters’ Intellectual Property & Science Business for $3.55 billion
Company renamed Clarivate Analytics
Toronto, October 3, 2016 – Onex Corporation (“Onex”) (TSX: OCX) and Baring Private Equity Asia (“Baring Asia”) today announced their respective private equity funds completed the acquisition of the Intellectual Property & Science business from Thomson Reuters, for $3.55 billion.
The newly independent company will be known as Clarivate Analytics, and will continue to own and operate a collection of leading subscription-based businesses focused on scientific and academic research, patent analytics and regulatory standards, pharmaceutical and biotech intelligence, trademark protection, domain brand protection and intellectual property management. The company’s many well-known brands include Web of Science, Cortellis, Thomson Innovation, Derwent World Patents Index, Thomson CompuMark, MarkMonitor, Techstreet and Thomson IP Manager, among others.
The Onex and Baring Asia groups made an equity investment of $1.6 billion for 100% ownership of Clarivate Analytics, of which $1.2 billion was from Onex’ flagship fund, Onex Partners IV, and certain limited partners as co-investors. Onex’ share of the investment as a Limited Partner in the Fund and as a co-investor was approximately $420 million.
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. The Company has approximately $23 billion of assets under management, including $6 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex invests alongside its fund investors and is the largest limited partner in each of its private equity funds.
Onex’ businesses have assets of $36 billion, generate annual revenues of $23 billion and employ approximately 145,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The Company’s security filings can also be accessed at www.sedar.com.
About Baring Private Equity Asia
Baring Private Equity Asia is one of the largest and most established independent alternative asset management firms in Asia, with total investments and committed capital of over $10 billion. The firm runs a pan-Asian investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions, as well as a private credit and a pan-Asian real estate private equity investment program. The firm has been investing in Asia since its formation in 1997 and has over 140 employees located across offices in Hong Kong, China, India, Japan and Singapore. Baring Asia currently has over 35 portfolio companies active across Asia with a total of 150,000 employees and revenue of approximately $31 billion in 2015. For more information, please visit www.bpeasia.com.
This news release may contain forward-looking statements that are based on current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex and Baring Asia are under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
For further information:
Director, Investor Relations
Baring Private Equity Asia
Richard Barton or Dan Billings
Photo courtesy of Reuters/Carlo Allegri