Reuters Ltd. said it accquired a majority stake in Loan Pricing Corp., the New York data base company that tracks pricing of commercial and industrial loans in the United States.
Terms were not disclosed.
"We are excited by the prospect of developing LPC's business internationally, and using Reuters' technological expertise to enhance the range of products we offer to our customers." said Christopher Snyder, president of LPC, in a statement Wednesday.
Reuters Ltd. is the main operating company of Reuters Holdings PLC of Great Britain, the international news and financial information group.
Founded by Mr. Snyder in 1985, Loan Pricing provides data and consulting services to over 400 financial institutions and corporations.