LONDON (03/22/2000) - U.K.-based news and information service company Reuters Group PLC and Microsoft Corp. have signed an agreement to co-develop Internet products, Reuters announced today.
The companies will share resources and technologies for products and services that initially focus on the financial services markets, with the intention of expanding into vertical markets in the future, according to a statement released from the Reuters InfoWorld exhibition in Geneva.
The new Internet products will be based on standard Microsoft offerings such as Windows 2000 and Office 2000, Reuters said. The companies did not disclose financial terms of the deal.
The first product will be the Reuters Digital Dashboard (RDD), described as a personal Web portal distributing customized information from a variety of sources, including Internet and Reuters news services, Reuters said. The company did not give pricing information nor a projected release date for the product's mass market debut.
Reuters also announced the launch of a new advertising campaign to promote the company's brand online. The press advertising campaign is being run in Reuters' five largest markets -- the U.S., U.K., Germany, Japan and Switzerland -- and will have a initial budget of 14 million pounds (US$22.26 million), Reuters said in a separate statement.
The initiatives launched by Reuters are part of the company's new Internet strategy, announced last month. [See "Reuters Plans $799 Million Net Makeover," Feb. 9] Reuters said that it plans to invest $799 million over the next four years to revamp its Internet operations.
Reuters, in London, can be contacted at +44-207-250-1122, or at http://www.reuters.com/. Microsoft, in Redmond, Washington, can be reached at +1-425-882-8080 or at http://www.microsoft.com/.