International Thomson Bids For CMQ

International Thomson Organization Inc. has offered to acquire CMQ Communications, Inc. of Toronto and its associated companies, International Quotation Data Corporation, Market Systems Technology Inc., and Quotation Analytics Inc. from majority owner David Campbell. The value of the offer is estimated at C$100 million.

CMQ is the largest Canadian quote vendor, with 1986 revenues of about C$25 million. International Thomson is a major publishing, energy, and information services conglomerate with 1986 revenues of 1.7 billion pounds. Although other bidders, including Automatic Data Processing Inc., are still in the hunt, the Thomson bid has a good chance of succeeding, say sources close to both principals.

CMQ has exclusive rights to distribute Telerate in Canada for the next 15 years and an agreement for the distribution of Telerate via its Multiport product in the U.S. If the Telerate contracts are vulnerable to abrogation in the event of a sale, the terms of the deal may be changed or the offer dropped.

Thomson is known to be seeking properties to fold into its rapidly expanding Infinet group. Recent additions include Technical Data Corp., Business Research Corp., Computer Directions Advisors Inc., and Autex Systems, Inc. (see related article, this issue), which recently signed a Canadian distribution deal with CMQ.

CMQ would complement the other companies, filling the need for an exchange-based real-time equities information service. CMQ's recent thrust into the U.S. market would benefit by Thomson's backing, and the CMQ product line would be enhanced by the addition of Infinet's fundamental corporate, news, and fixed-income products.