TORONTO, Oct. 11, 2017 /CNW/ - One year after the launch of the Thomson Reuters Technology Centre, the company today announced a new long-term facility for the Centre, a commitment totaling more than USD$100 million including both capital investments and a 12 year lease.
The new site will be located at Duncan House (19 Duncan Street) in Toronto's Entertainment District and will accommodate up to 1,500 employees. Thomson Reuters is expected to assume occupancy in early 2021.
"This investment is indicative of how much potential we believe exists in the area and the leadership role we want to play in Canada," said Jim Smith, president and chief executive officer, Thomson Reuters. "We are thrilled with the talent we have been able to attract in year one. Once fully staffed, the Centre will house one of Canada's largest technology hubs dedicated to developing the next generation of products and capabilities for our global customers."
In October 2016, Thomson Reuters announced it was opening a technology centre in Toronto. The Centre has been temporarily located in Bremner Tower and focuses on using cloud computing, big data analytics and machine learning (AI) to create better, faster, more intuitive and more secure solutions for customers.
"Our team operates as a catalyst for our global network of technologists working to provide our customers with the information, expertise and software they need," said Shawn Malhotra, vice president, Thomson Reuters Technology Centre. "This building will allow us to bring together our growing team in a collaborative work environment, in a prime spot rooted firmly in the culture and creativity of downtown Toronto."
The site, the former Southam Press Building, is located at the corner of Adelaide Street West and Duncan Street. Duncan House will consist of a 10-story LEED Gold office building integrated with the building's heritage structure. The office building is being developed by Allied Properties and Westbank Projects Corp.
The offices will feature a collaborative workplace environment designed to promote employee health and wellbeing. It will feature both formal and informal workspaces designed to enable a variety of working styles, supported by state-of-the-art technology, breakout spaces, exterior terraces and food service. The Centre's amenities will include a café, health club, bicycle room and on-site concierge services.
Thomson Reuters is the world's leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol: TRI). For more information, visit www.thomsonreuters.com.
SOURCE Thomson Reuters
For further information: Dave Moran, Thomson Reuters, +1 416 687-7378, Dave.Moran@thomsonreuters.com