Bloomberg has been busy spreading its wings inside the business information industry. In October 2009 it acquired BusinessWeek from McGraw-Hill, expanding its market from the trading-oriented audience in the financial world to a business audience with a longer-term focus on business trends and analysis (See Insights, Bloomberg and BusinessWeek Combination a Natural Fit, October 15, 2009). Bloomberg is also in the process of rolling out a new legal research product to compete in the space long dominated by Thomson Reuters’ Westlaw and Reed Elsevier’s LexisNexis.
David Curle, Director & Lead Analyst – of Outsell Inc writes: We’ve noted before that all of these machinations by Bloomberg to move into new areas are prompted by the pressure on its traditional terminals business, and it is looking in multiple directions at once. With BloombergLaw the approach was to build its own offering, but the BusinessWeek and Eagle Eye deals show it is also willing to use acquisitions to move into new markets.
From industry insights to legal insights, perhaps not too far to company insights. What will the Bloomberg people dream of next? Source: Outsell Insights
