Reuters Holdings to Buy Lipper Fund Unit

Reuters Holdings said it’s buying the mutual fund information business of privately held Lipper Analytical Services Inc., a major provider of data on the $7-trillion worldwide fund industry. Reuters, the British news and financial information service, plans to keep the Lipper Analytical name, which would be attached to all of its expanded fund information offerings. Founder A. Michael Lipper would remain chairman of the firm, which would also retain its headquarters in Summit, N.J. Reuters, the world’s largest provider of financial data, would not disclose the purchase price.