CompanynewsGroup is now a fully owned subsidiary of Euronext. In 2005, it generated revenues of EUR 3.5 million.
The acquisition of CompanynewsGroup will enhance Euronext’s presence in the market for corporate news distribution, broadening its range of services for listed companies. These services are expected to benefit from the new financial reporting requirements laid down in the European Transparency Directive, which will be introduced in January 2007.
CompanynewsGroup offers a comprehensive range of distribution circuits that enable listed companies to comply with market regulations by simultaneously distributing the full texts of their financial communications to key financial information relays. CompanynewsGroup also provides IR officers with interactive services dedicated to leverage their online Investor Relations.
Since CompanynewsGroup’s current client base of listed companies is located mainly in France, Euronext plans to offer the new services in the Netherlands and Portugal, while continuing to develop business in Belgium, in Italy and in Spain.
According to André Went, Managing Director of Euronext Information Services, “CompanynewsGroup has a successful track record and is an established player on the European market. With CompanynewsGroup, Euronext will obtain access to the market for corporate news distribution. This is a new source of revenue diversification for our Information Services SBU, and is in line with our objective to improve the range of services we can offer to listed companies.”
Olivier Mégean, former Vice-CEO of CompanynewsGroup and appointed CEO, said, “We are pleased to join Euronext, a pan-European group. Its historically strong relationship with issuersand our expertise in broadcasting information to the market on behalf of issuers will enable us to achieve synergies and develop new business activities.”
