India company denies it's close to buying Thomson Reuters' Ann Arbor-based health care division
An India-based information technology services company that had been rumored as a possible buyer of Thomson Reuters' Ann Arbor-based health care division is currently "not in discussions for the acquisition," a spokeswoman told AnnArbor.com in an email.
Thomson Reuters employs 800 to 900 people at its Ann Arbor-based health care division, which is up for sale.
File photo | AnnArbor.com
But InfoSys spokeswoman Sarah Gideon said in an email that the two companies were not discussing a deal.
Thomson Reuters, the second largest for-profit private sector employer in Washtenaw County, employs between 800 and 900 workers at the health care division at the former 777 building on Eisenhower Parkway. The company's 1,000-person tax and accounting office on Dexter would not be part of a sale.
Thomson Reuters in June put its health care division up for sale, describing it as profitable but not core to its overall business.
The statement by InfoSys comes after several Asian news sources reported Wednesday that the company's CEO had said InfoSys was close to a deal to acquire Thomson Reuters' health care business, which provides data services, software and consulting to insurers and health care providers.
In September, an India business journal reported the deal could be worth $700 million to $750 million.
Contact AnnArbor.com's Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com. You can also follow him on Twitter or subscribe to AnnArbor.com's newsletters.
Comments
Gordon
Fri, Oct 14, 2011 : 1:58 p.m.
Makes you wonder? $6.35 billion company with 133,000 persons wants to buy TR Health services for (reported) $700 to $750 million with 800 to 900 persons. Not the best measure; but it seems one company has many dollars generated on few people versus the other company. One might begin to fear ones job based on that comparison alone. If the deal were to go thorough it would look like a consolidating people into 777 Eisenhower facility would be the next move. Given the stated employee numbers further reduction in total staff might take place in what's left of the T-R staff. AH, the English still playing with their colonies India & America.
flexorz
Fri, Oct 14, 2011 : 1:59 a.m.
From what I've heard, the interested businesses have already met with Thomson Reuters leadership in order to express their interest - so if they are interested and haven't already thrown their hat in the ring, which is what it sounds like based upon today's new developments, then it may already be too late for them to do so. Also, as another poster stated, this rumor all seems to have originated from a single Indian news source, Business Standard. Not sure what "several Asian news sources" AnnArbor.com is speaking of, as each one of these articles refer back to the Business Standard as their source.
janeqdoe
Fri, Oct 14, 2011 : 1:28 a.m.
From all the aritlces I've read on the topic, these "several news sources" really have one common origin: Business Standard, an Indian news journal. Everyone else quoted them, meaning that the secondary news coverage is not truly a "source". It is curious that the Business Standard quoted an Infosys executive who made it sound that the marriage was eminent, while the Infosys spokesperson quoted in this article denies that there was any relationship at all. Perhaps the Business Standard created the story (or Infosys allowed the story to swirl) for some ulterior motive?
deletedcomment
Thu, Oct 13, 2011 : 6:59 p.m.
I really hope these people do not loose their job!
Ariel
Thu, Oct 13, 2011 : 6:32 p.m.
Hopefully the actual company who buys the healthcare division is based in America so the 800-900 people aren't required to relocate or lose their jobs.
say it plain
Thu, Oct 13, 2011 : 5:29 p.m.
So, do a little more research for us lol... The Asian news story you link has the InfoSys CEO saying "we're dating...we're not yet engaged...we have the intention of getting engaged", which seems to mean that InfoSys is *very* interested, but they have to be sure it would be the right move to ask for 'acquisition'. TR is looking to marry off this healthcare business, doesn't need her anymore (sorry for these analogies, but I didn't start them the InfoSys guy did !) , and here's a suitor who is very interested. This report just forces us to sit and parse the wording, via links, it seems to me, with a conclusion that seems to contradict the headline...or maybe offer a small difference from it... no, they're not *close* to buying, but they're really really close to close to buying?!
Jim
Thu, Oct 13, 2011 : 6:02 p.m.
Sounds like an arranged marriage.....