Thomson Reuters to Sell Intellectual Property and Science Units for $3.55 Billion

The company is trying to focus on its financial units.

Thomson Reuters has sold its intellectual property and science businesses to Onex Corporation and Baring Private Equity Asia for $3.55 billion in cash, total.

The deal is part of Reuters’ shift to double down on its financial units. Reuters said it will use a portion of the money to buy back shares and the remaining funds to pay down debt and reinvest in its other businesses.

“With the completion of this divestiture, Thomson Reuters will be even more focused on operating at the intersection of global commerce and regulation,” said Reuters CEO Jim Smith, in a statement.