(May 1) – “Reuters Group PLC won the auction for some assets of Bridge Information Systems Inc., a move described by Reuters’s incoming chief executive as part of the company’s bid to boost its presence in the U.S.” writes Sarah Ellison in today’s Wall Street Journal.

“The British news and information company has agreed to pay $275 million for the assets of Bridge, which has headquarters in St. Louis. These include Bridge Information Systems in North America; EJV, which provides bond pricing, data and market analysis; Bridge Trading Technologies, which includes the Bridge Trading brokerage business; the eBridge Internet business; and the CRB Index, a measure of U.S. commodity prices.”

“Tom Glocer, who will this summer become the first American to serve as Reuters’s CEO, said the Bridge acquisition, though small, furthers Reuters’s goal of boosting its U.S. presence. ‘We have far less penetration in the U.S. than we do in the rest of the world,’ said Mr. Glocer. He added that Reuters’s share of the business-information market is roughly 40% globally but 20% in the U.S.”

“Though the Bridge acquisition won’t significantly change that 20% figure, he said it demonstrates Reuters’s commitment to becoming a bigger player in the U.S.”

“Bridge, which is closely held, didn’t calculate financial results for individual business segments for 2000, but Reuters estimates that 2000 revenue for the businesses it is acquiring was approximately $435 million.”

“Analysts said Reuters’s bid is in line with expectations.”

“The bid is subject to approval by Bridge’s board and by a U.S. bankruptcy court, where Bridge has filed for Chapter 11 protection from creditors.”