Magazine article Information Today

Reuters Acquires Majority Stake in Reality Technologies

Magazine article Information Today

Reuters Acquires Majority Stake in Reality Technologies

Article excerpt

Reuters has acquired a majority equity shareholding in Reality Technologies, Inc., a privately-held, Pennsylvannia-based company which develops personal investments technology. Reality Technologies, Inc. markets its investment software and online services jointly with Time Inc.'s Money magazine.

Reuters has invested $13.8 million to acquire a 79 percent stake in Reality Technologies on a fully diluted basis. The investment includes the infusion of new operating capital intoi the company. The acquisition was made from an investor group led by Venrock Associates. Current management will remain in place and report to Reuters NewMedia Inc. in New York.

Reality developed and sells personal financial planning software called WealthBuilder by Money Magazine. More than 100,000 copies of the WealthBuilder software package have been sold to date.

The company also developed and sells an online personal investing service called Reality's Smart Investor by Money Magazine, which has been renamed Reuters Money Network. Originally launched in November 1992, this service now provides some 25,000 members with online access to investment information augmented by analysis tools that monitor individual investment portfolios. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.