OLD Media Moves

Thomson Reuters acquires Zawya

June 25, 2012

Posted by Chris Roush

Thomson Reuters announced Monday that it has acquired Zawya, a financial news and information service for the Middle East and Africa.

Dinesh Nair of Reuters writes, “Zawya provides profiles of companies in the region, real-time news and research and an online network for professionals. It has a partnership with Dow Jones Newswires, part of News Corp, to distribute the news agency’s content.

“Basil Moftah, Thomson Reuters managing director for the Middle East, said there were no plans to end the Zawya-Dow Jones arrangement. He noted that Thomson Reuters had a worldwide agreement to distribute Dow Jones news through its terminals.

“Financial terms of the transaction were not disclosed. Zawya shares were purchased from a group of shareholders led by Saffar, a Dubai-based investment group, Thomson Reuters said.

“Thomson Reuters, which provides news and information to financial, legal, accounting and healthcare professionals, has about 600 employees in the Middle East and North Africa. Zawya employs 200 people, mainly in Dubai and Beirut.”

Read more here.

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