Bloomberg seeks more deals

Andrew Edgecliffe-Johnson and Chrystia Freeland of The Financial Times report that Bloomberg LP is considering more acquisitions to expand its media presence.

The company closed its deal for BusinessWeek last week.

Edgecliffe-Johnson and Freeland write that Bloomberg chairman Peter Grauer said “Bloomberg was working on a web-based product for the property business, saying real estate was ‘a very large asset class round the world, particularly in New York.’

“It has also begun trials of Bloomberg Law, a web-based service aimed at competing with the legal information businesses of Thomson Reuters and Reed Elsevier, although Mr Grauer said he had no interest in creating a cheaper ‘Bloomberg-light’ version of its core terminal.

“The group had looked at 70 investment opportunities in the planning cycle it was now completing, he said, and would fund ‘a considerable amount of them.’

“Having hired 1,100 people last year, most of them software engineers, ‘we will, I’m confident, have a similar investment profile this year,’ he said.”

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