Pan-European exchange Euronext has signed an agreement to acquire Hugin, a corporate news distribution service, for EUR20.5 million.
Hugin was founded in Norway in 1995 and currently has ten offices in nine European countries.
Euronext entered the corporate news distribution market earlier this year when it acquired French firm Companynews in March.
The exchange says the acquisition of Hugin will increase its presence in the distribution market and broaden the range of services it provides for both listed and unlisted companies.
Following closing of the deal, which is expected before the end of the year, Hugin and Companynews will be integrated to create a Euronext subsidiary with its own management team.
Earlier this year US exchange Nasdaq bought out PrimeNewswire, a Los Angeles-based firm specialising in press release newswire and multimedia services.