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BizReport : Research : May 01, 2007
Reuters is set to buy ClearForest
In the news business, content is king. But, with the onset of the Internet and more users finding news content by running search queries, some news sites are losing out. News service Reuters hopes to change that by purchasing text analytics firm ClearForest.
Gerry Campbell, Reuters Global Head of Search & Strategic Development, said in a prepared statement, "ClearForest has developed a superior, commercially proven technology in the field of Text Analytics that will make it immensely easier for our customers to find, understand and navigate our content.”
No longer a news-only medium, Reuters has expanded their content to include blogs and other consumer-generated content. This content explosion has made it harder for users to find exactly what they are looking for. The company hopes that by optimizing the text, users will find it simpler to navigate the site for the news they want to read.
Terms of the deal have not been released, however it appears as if the ClearForest staffs in the US and Israel will remain in place. Reuters has used some ClearForest technology for the past year. ClearForest will also continue working with new and existing clients to optimize their content.
The deal will be finalized in 30 days.
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