Thomson Reuters buys PR agency Hugin Group
22 Sep 2009
Thomson Reuters, the New York-based information and media giant, said on Monday it has agreed to buy the Oslo-based Hugin Group, from NYSE Euronext.
The terms of the deal were not disclosed. However, a Norwegian newspaper Dagens Naeringlsliv reported that the price ranges between 40-42 million euros ($59 to $62 million).
The transaction is expected to be completed in the fourth quarter, subject to regulatory approvals.
Hugin, founded in 1995, is engaged in investor relations, and distributing news releases for companies mainly in Europe.
It has introduced solutions for the newly implemented EU regulatory framework and continues to develop technology and workflow solutions for IR and PR professionals for the global market.
Thomson Reuters said in a statement the acquisition was part of a strategy of providing corporate clients with investor relations and public relations services.
