The news agency Thomson Reuters has agreed to buy Oslo-based Hugin Group from its US-based owner NYSE Euronext.
Norwegian newspaper Dagens Naeringlsliv said on Monday the acquisition price was around Ôé¼40 million to Ôé¼42 million. However, Tor Baekkelund, chief executive of Hugin Group, said he could not comment on the terms.
Founded in 1995, Hugin distributes press releases and undertakes investor relations services for over 1,700 companies in 26 countries across Europe. Now the leading pan-European provider in its market, it employs 105 staff across Norway, Germany and France.
It is expected that the transaction, which is subject to regulatory approvals, will be completed in the fourth quarter.
The purchase is in line with Thomson ReutersÔÇÖ strategy to provide more comprehensive, value-added services to its clients, including investor relations and PR services.
The terms of the deal have not yet been disclosed.
Created by Thomson Corporation's purchase of Reuters in 2008 and headquartered in New York City, Thomson Reuters employs over 50,000 people and operates in over 100 countries across the world.
New-York based NYSE Euronext's equities markets represent nearly 40 per cent of the world's equities trading.
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