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.

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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