![]() ![]() The company was renamed Bloomberg LP in 1986, and by 1991 it had 10,000 of its terminals installed on finance professionals' desks. Merrill Lynch invested $30 million in the company in 1984. IMS developed the Bloomberg Terminal system to track financial market information and calculate the price of financial instruments. He teamed up with Thomas Secunda, Duncan MacMillan, and Charles Zegar to found Innovative Market Solutions (IMS). When Salomon Brothers was taken over by Phibro Corporation, Michael Bloomberg received a $10 million check for his partnership interest in the firm.
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