Thomson Reuters, a news and information company, announced today, Wednesday, that it will acquire "Imagine," a digital content asset management company, for an undisclosed price, to expand its service offerings to new clients. Imagine, based in the UK, owns the Screen Ocean platform for distributing video clips. The company manages digital libraries for content in sports, media, and business, including the English Premier League and Major League Baseball. Imagine will become part of Reuters News.
This acquisition is part of a plan to provide services to more clients as Thomson Reuters expands its video broadcasting activities. Reuters currently offers its services to agency clients through "Reuters Connect," a content platform that provides texts, images, and videos from Reuters, as well as news and content from over 70 other content providers, including BBC, USA Today, and China Central Television.
This deal is the second to be announced this week. On Monday, Thomson Reuters stated that it had agreed to acquire "CaseText," an AI company based in California that helps legal professionals conduct research, analysis, and document preparation using generative AI, for $650 million. Thomson Reuters indicated that it has allocated $10 billion for acquisitions and about $100 million annually to invest in AI capabilities.
