Thomson Reuters buys news release company

Terms were not disclosed but Norwegian newspaper Dagens Naeringlsliv said the price was around €40 million to €42 million.

The acquisition is part of a strategy of providing corporate clients with investor relations and public relations services.

As part of the agreement, Thomson Reuters and NYSE Euronext will expand their strategic partnership toward offering value-added services to the issuer community, Thomson Reuters said.

Hugin, founded in 1995, distributes press releases and provides investor relations services for more than 1,700 companies in Europe. It employs 105 staff, with key centres in Norway, Germany and France. ■