Thomson Reuters has agreed to buy FX Alliance (Fxall), a provider of electronic foreign exchange trading solutions to corporations and asset managers.
FXall was founded in 2000 and has more than 1,000 institutional clients globally.
As per the deal, Thomson Reuters will launch a tender offer, which is subject to standard regulatory approvals, for the acquisition in the coming days.
Thomson Reuters managing director of marketplaces Abel Clark said, "This combination will enable us to provide our customers with integrated management of trades though the entire lifecycle, delivering the benefits of a more streamlined trading process and more efficient execution."
The transaction is anticipated to complete in the third quarter of 2012.
Barclays is acting as financial advisor to Thomson Reuters while JP Morgan is acting as financial advisor to Fxall.