Sources Say MNG Sold For $11M, And Miller Has A 1-year Contract
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NEW YORK--Reuters paid $11.2 million to acquire the Marketnet Group (MNG) trading technology consultancy, and the former CEO of MNG has a one-year contract with Reuters, say sources.
The deal, consummated earlier this month, did not include Rich Inc., which Reuters spun off five years ago (TTW, June 14). While Marketnet will now become a company of Reuters, Rich is to remain separate. Reuters officials decline to comment on the acquisition and the working arrangements of Reuters/MNG employees.
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