Reuters and Capco invest £32m in e-finance services

NEWS Reuters and technology provider Capco have join forces in a £32m joint venture to develop software data management services. The deal will see the companies operate data services to let financial institutions increase efficiency and improve the straight through processing of transactions. The web-based service will complement the existing range of Reuters Data Management Solutions. Reuters and Capco have invested £16m each in the venture. The two companies announced plans to work together in February 2001 to develop back-office software services for the finance industry. Today's announcement marks the first venture between the two companies.