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Portico Capital Advises World-Check on its Sale to Thomson Reuters

May 16, 2011
Greewich, CT


Portico Capital Securities LLC is pleased to announce that it served as exclusive financial adviser to World-Check on it sale to Thomson Reuters. “We are delighted to have represented World-Check in its sale,” said S. Searcy Dryden, Managing Director at Portico Capital and Group Head for its Data, Risk & Analytics practice. “Having represented World-Check in its 2007 recapitalization [led by Chris Mitchell at Spectrum Equity] and then sold IntegraScreen Enhanced Due Diligence to the Company in 2009, we are particularly pleased with this successful outcome.”

Dan Peak, CEO of World-Check, noted, “The team at Portico Capital was instrumental in advising us throughout the decision making and execution process; our sale to Thomson Reuters is, in many ways, the culmination of a real partnership between Portico and World-Check, which first began under the leadership of our founder [David Leppan] many years ago.”

Below are more details from the Company's press release:

Thomson Reuters Acquires World-Check


Deal bolsters Thomson Reuters Accelus suite, recognizing growing focus in financial crime and corruption prevention

NEW YORK and LONDON, May 16, 2011 – Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, has announced the acquisition of London-based World-Check, a leading global provider of financial crime and corruption prevention information. Terms of the deal were not disclosed.

Financial crime and corruption prevention is one of the fastest-growing areas of regulatory risk. Businesses are facing more risks – and scrutiny – than ever, and governments and regulators around the world are increasing the level of compliance and inspection, particularly around fraud, bribery and sanctions. World-Check provides information that profiles entities and individuals and is used in the due diligence processes of the international business community. More than 5,400 clients in over 150 countries, including 49 of the world's top 50 banks, 200 enforcement and regulatory agencies, and 45 of the world’s top 100 corporations, rely on the World-Check database.

World-Check will be part of the Governance, Risk & Compliance (GRC) business of Thomson Reuters, which provides global financial institutions, corporations and law firms with the information and tools necessary to navigate today’s heightened regulatory landscape. Chief Executive Officer Dan Peak will continue to lead the World-Check executive team, and will report to David Craig, president, GRC.

“Growing our presence in the GRC sector is a key strategic priority for Thomson Reuters, and the addition of World-Check will extend our presence in the important and fast-growing financial crime and corruption prevention segment,” said Craig. Earlier this year, the company introduced Thomson Reuters Accelus – a comprehensive suite of information, software and services for professionals in compliance, audit, legal, mergers and acquisitions, and risk functions in an organization.

“Managing risk across the enterprise is a key concern for our customers,” said Thomas H. Glocer, chief executive officer of Thomson Reuters. “I’m pleased we have secured this excellent opportunity to reinvest some of the proceeds of our recently announced dispositions as we pursue our global growth strategy.”

“World-Check affirms and accelerates our commitment to deliver the information, software and services that help legal, compliance and risk professionals navigate an increasingly complex global risk and regulatory landscape,” said Jim Smith, chief executive officer, Thomson Reuters Professional Division. “World-Check is a leader in this sector, and we’re delighted that they are now part of the Thomson Reuters team.”

“I am really excited about the new opportunities presented by the combination of Thomson Reuters and World-Check, which will enhance our ability to deliver world-class information services to help prevent financial crime and corruption,” said Peak.

World-Check has more than 500 employees based in 11 locations around the world.

Portico Capital Securities LLC served as exclusive financial advisor to World-Check with respect to this transaction. Latham & Watkins LLP provided legal advice.

About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 55,000 people and operates in over 100 countries. For more information, go to http://thomsonreuters.com.

Thomson Reuters Accelus is a comprehensive suite of solutions specifically built to address the governance, risk and compliance challenges faced by the board room, and their legal, compliance, audit, and risk management professionals. Comprising leading solutions provided by the heritage businesses of Complinet, Oden, Paisley, West's Capitol Watch, Westlaw Compliance Advisor, Westlaw Business and EDGARfilings, Thomson Reuters Accelus helps customers manage their risk exposure and accelerate their business at every step.

About Thomson Reuters Governance, Risk and Compliance
Through the Thomson Reuters Accelus suite of products, the Governance, Risk & Compliance business dynamically connects business transactions, strategy, and operations to the ever-changing regulatory environment, providing highly regulated firms with informed outcomes.

Thomson Reuters Accelus is a comprehensive suite of solutions specifically built to address the governance, risk and compliance challenges faced by the board room, and their legal, compliance, audit, and risk management professionals. Comprising leading solutions provided by the heritage businesses of Complinet, Oden, Paisley, West's Capitol Watch, Westlaw Compliance Advisor, Westlaw Business and EDGARfilings, Thomson Reuters Accelus helps customers manage their risk exposure and accelerate their business at every step.

About World-Check
Trusted by more than 5,400 institutions in over 150 countries, including 49 of the world’s top 50 banks, World-Check is the world authority on regulatory and reputational risk identification and remediation. World-Check’s global database of Politically Exposed Persons (PEPs) and heightened risk individuals and entities, due diligence reports, passport verification and country risk assessment tools provide the means to address the full spectrum of risk across all markets and industries. Represented across five continents, World-Check?s international research team monitors emerging risks in more than 60 languages, covering over 240 countries and territories worldwide.

About Spectrum Equity Investors
Spectrum Equity Investors is a private equity firm focused on investing in profitable, growing businesses. Founded in 1994 with offices in Boston and California, Spectrum manages over $4.7 billion in capital across six funds. Spectrum has been an active investor in online media franchises including Ancestry.com (NASDAQ: ACOM), Demand Media (NYSE: DMD), and SurveyMonkey, as well as electronic information service providers such as iPay Technologies (acquired by Jack Henry & Associates), Passport Health Communications, RiskMetrics Group (acquired by MSCI), and Seisint (acquired by LexisNexis/Reed Elsevier). For more information, visit www.spectrumequity.com.

About Portico Capital Securities, LLC
Established in 2000, Portico Capital Securities is the leading merchant bank with an exclusive focus on the Information and Business Services industry. Portico provides M&A and private capital financing advisory services to the leading private and public growth companies in this Industry. For more information about Portico Capital’s services, transactions, and experience, please visit http://www.porticocapital.com

PORTICO CONTACT
S. Searcy Dryden, Managing Director and Group Head, Risk, Data & Analytics
searcy@porticocapital.com
203.661.7719