Toronto—Thomson Financial, a division of electronic b-to-b publisher Thomson Corp., on Wednesday said that is has signed a definitive agreement to buy AFX News from Agence France-Presse. Financial terms were not disclosed, but the price was reportedly pegged at just under $20 million.
London-based AFX is a real-time European news service that provides business, financial and economic news. Donal Smith, president, Europe and Asia, Thomson Financial, said in a news release: “The acquisition of AFX is consistent with our global news strategy to deliver tailored, market-specific information to clients in the business and financial communities. It builds on the success of Thomson Financial News in North America, which is already delivered to over 10,000 desktops.”
Thomson Financial existing news services include Thomson Financial News, Thomson Investment Management News and Thomson Merger News.