Reuters - Bloomberg to expand even as terminal numbers fall: report

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Bloomberg to expand even as terminal numbers fall: report

Monday, Apr 27, 2009 5:47AM UTC

(Reuters) - Bloomberg LP plans to expand its investment in its technology and news operations, even as net monthly installations of terminals is down 13 percent from a year-ago, its chairman Peter Grauer told the Financial Times.

The company has seen a fall of just over 2.5 percent in terminal numbers since they peaked in November, implying about 7,500 net cancellations from a subscriber base of about 300,000, Grauer told the paper in an interview.

Bloomberg expects to add 950 staff this year, including about 100 in its news operations, and will open offices in Abu Dhabi, Angola, Belgrade, Doha, Riyadh and Tallinn.

Bloomberg's sales were up 9.2 percent in the fourth quarter, Grauer told the paper.

(Reporting by Jennifer Robin Raj in Bangalore, Editing by Ian Geoghegan)