The New York-based Nasdaq Inc. has completed its acquisition of the Toronto-based newswire service Marketwired L.P., the stock exchange operator announced on Thrusday.
The terms of the deal were not disclosed. Earlier this month, Nasdaq announced that it would be buying Marketwired from OMERS Private Equity.
Nasdaq says that the deal aims to boost its corporate services business by expanding its newswire distribution and gaining access to Marketwired’s social media targeting tools and analytics.
“This is a major opportunity for our corporate solutions business to enhance its end-to-end portfolio of services for communication professionals — including news distribution, media research, social media and analytics,” says Stacie Swanstrom, senior vice president and head of corporate solutions at Nasdaq. “We will also make use of existing resources — including an expanded presence in North America, particularly Canada — to provide an even stronger service and account management experience for our clients.”
Earlier this year, Nasdaq bolstered its presence in Canada with the acquisition of alternative trading system, Chi-X Canada.
See: Nasdaq completes acquisition of Chi-X Canada
The exchange operator says that the acquisition of Marketwired is expected to be accretive to its non-GAAP earnings within 12 months.