Thomson Reuters

Thomson Reuters is a provider of analytical information for business. The company is headquartered in New York, with a large volume of activities in London and Egan (USA, Minnesota).

As of March 2013, Thomson Reuters has about 60,000 employees in more than 100 countries around the world, the company's shares are listed on the exchanges in New York and Toronto.

The company offers services in the following areas - financial markets (comprehensive information solutions for professionals in financial and commodity markets), intellectual property (patent expertise, brand data and management solutions), research activities (solutions for analytics in the field of research and research activities), taxation and accounting, jurisprudence and media.

The Reuters audience covers more than one billion people.

History

2022: 3TB customer data leaked

On October 27, 2022, it became known that Thomson Reuters leaked a large amount of confidential data, including corporate and client information. On clandestine cybercriminal forums, this information is estimated to cost millions of dollars.

Cybernews' research team found that at least three Thomson Reuters databases were publicly available. The total volume of open files and logs exceeds 3 TB. In particular, one of the ElasticSearch databases contains critical information, including passwords for accessing third-party servers in regular text format. In addition, SQL (Structured Query Language) logs containing Thomson Reuters client searches and output results turned out to be open. Many files include documents with corporate and legal information about specific businesses and individuals.

Thomson Reuters customer data leaked

Timestamps indicate that information in the public domain is relevant. So, some records date back to October 26, 2022. However, Thomson Reuters downplays the leak, saying that of the three misconfigured servers with databases, two were designed to be public. The third server is said to be an auxiliary server: it is designed for "application logs from the provisioning/implementation environment."

One way or another, but the information was in the public domain for several days. Cybernews experts warn that this data can be used to organize various cyber attacks, for example, using social engineering methods or ransomware. In addition, it is possible to seize accounts, change registration data and fraud with payment cards. To date, public access to servers has been closed.^[1]

2021: Creation of a venture capital fund to invest in LegalTech projects

In mid-October 2021, Thomson Reuters announced the creation of a $100 million venture capital fund to finance innovative projects in the areas of work of the media company. First of all, we are talking about consulting services, as well as legal and tax support for business. In addition, investments are planned in startups engaged in developments in the field of risk management, anti-fraud, compliance and media. The new structure is called Thomson Reuters Ventures. Read more here.

2018: Annual IT outsourcing costs $0.5 billion and collaborations with IBM, Microsoft, SAP

In September 2018, it became known about Thomson Reuters' large spending on IT outsourcing. The media giant spends about $500 million a year on these purposes, collaborating with such large IT companies as IBM, Microsoft, SAP and Tata Consultancy Services.

The latter in September 2018 received another major contract - for almost $70 million. Under the terms of the agreement, the Indian IT company will provide the customer with IT infrastructure management and application development services. Wipro, Mphasis and IBM also claimed the deal, but Thomson Reuters opted for Tata Consultancy Services.

Two years earlier, Thomson Reuters engaged Mphasis to develop a private equity management system, namely, to create Beta brokerage processing solutions.

In addition to outsourcing, Thomson Reuters deals with some IT processes on its own. So, in 2016, the company created the Enterprise and Technology Operations (ET&O) division to accelerate digital transformation.^[2]

In Ontario, Canada, Thomson Reuters has a technology center, whose headcount should grow to 1,500 employees by the end of 2018, the Times of India reported, citing the company's annual reports.

At the same time, ET&O combines more than 10 different functions (working with technologies, operating centers, real estate, procurement channels , etc.) within one corporate structure.

In 2017, Thomson Reuters capital expenditures amounted to $240 million, which is approximately the same as a year ago. Most of the investment was in technological infrastructure and product development.

By comparison, the British nationwide public broadcasting organization BBC spent more than $3 billion in five years by 2018, including on long-term outsourcing contracts.

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