(Reuters) - Thomson Reuters Corp (N:TRI) (TO:TRI) said on Wednesday it was exploring strategic options for its Intellectual Property & Science business, which had revenue of about $1 billion in 2014.
The business provides intellectual property and scientific information and associated tools and services to governments, universities and companies.
The company said it would use any net proceeds from a potential transaction for general purposes, including investing in its core businesses, repaying debt and accelerating share buybacks.
The business contributed about 8 percent of Thomson Reuters' total revenue of $12.6 billion before currency adjustments last year.
Basil Moftah, formerly president of the unit, is leaving Thomson Reuters and has been replaced as president by Vin Caraher, who previously led the Thomson Scientific business.
Guggenheim Securities LLC and JP Morgan are financial advisers to the company.
Thomson Reuters' U.S.-listed shares closed at $39.93 on Tuesday and were untraded before the bell on Wednesday. The company's Toronto-listed stock closed at C$52.95.