Euronext signed an agreement to acquire Hugin ASA, Europe’s leading provider of innovative solutions for connecting communication professionals with their target audiences. Hugin was founded in Norway in 1995 and currently has ten offices in nine European countries.
The acquisition is expected to be completed before the end of this year at a price of EUR 20.5 million (enterprise value, cash and debt free).
Euronext expanded into the corporate news distribution market in March this year when it acquired the French firm Companynews. The acquisition of Hugin will increase Euronext's presence on the market for corporate news distribution, broadening its range of services for both listed and unlisted companies. In a subsequent move, Hugin and Companynews will be integrated to create a Euronext fully owned subsidiary with its own management team.
