6m German deal for Dow Jones

Dow Jones has signed an agreement to acquire the news division of vwd (Vereinigte Wirtschaftsdienste), a provider of German-language, realtime financial newswires and business newsletters, for €9.8m (£6.65m).

Dow Jones said it would operate and enhance the existing vwd news services and newsletters under the brand name Dow Jones-VWD News as part of its Dow Jones Newswires division under its Electronic Publishing segment.

The acquisition is a major expansion of Dow Jones Newswires’ operations in the European marketplace.

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Newswires will absorb vwd’s editorial and 120 news business staff, based near Frankfurt and in news bureaux in Frankfurt, Berlin, Hamburg, Stuttgart, Düsseldorf, Munich and Brussels.

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