Reuters Acquires ClearForest
ClearForest, an Israeli-American startup whose text-mining and tagging tools have been used to search for insider traders and terrorists, has been acquired by Reuters to help investors search for profits.
Financial terms of the deal were not disclosed, but the Israeli newspaper Ha’aretz reported that Reuters paid $25 million, less than the $31.25 million in investments the company received over three rounds. ClearForest’s investors include Greylock Partners, based in
ClearForest, founded in 1998, developed technology to analyst, read and understand large amounts of content originating from diverse documents. Reuters is one of the clients for its technology, which tags content by the principles of artificial intelligence.
London-based Reuters, which is locked in a battle with closely held Bloomberg in distributing financial market data, plans to insert ClearForest search technology into its array of data feeds.
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