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BtoB

Berkshire Hathaway to buy Business Wire

Published on .

Omaha, Neb.—Berkshire Hathaway, the investment house run by Warren Buffett, Tuesday announced a definitive agreement to acquire Business Wire, a privately held company that provides online global news and business coverage. Financial terms of the deal were not disclosed.

Business Wire will operate as a wholly owned subsidiary of Berkshire Hathaway. Its management team will remain in place, and the company’s day-to-day operations will not be affected by the ownership change, Berkshire Hathaway said.

Buffett, Berkshire Hathaway chairman-CEO, said in a news release: “In making this acquisition of Business Wire, we have followed our blueprint of buying profitable companies that are the industry leaders yet have significant growth potential.”

—Matthew Schwartz

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