NEW YORK (TheStreet) -- Thomson Reuters (TRI) - Get Thomson Reuters Corporation Report stock is up 0.64% to $41.15 after the company announced the sale of part of its business to Onex (ONEXF) and Baring Private Equity Asia.
The New York-based news and information company plans to sell its intellectual property and science business to the two private equity firms for $3.55 billion.
The business provides intellectual property and scientific information to governments, universities and companies. In 2015, the unit brought in about 8% of the company's $12.2 billion revenue.
Thomson Reuters has been looking to sell the 3,200-employee unit since November of 2015.
"This divestiture marks an important step in sharpening our focus on the intersection of global commerce and regulation," Thomson Reuters CEO Jim Smith wrote in an email to employees this morning, Reuters reports.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and solid stock price performance.
However, TheStreet Ratings also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.
You can view the full analysis from the report here: TRI
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.