Thomson Reuters buys Zawya
Thomson Reuters Corp has bought Zawya.com, which is a privately owned online service located in the Middle East.
Zawya provides profiles of companies in the region, real-time news and research. It has a partnership with Dow Jones Newswires, part of News Corp, to distribute the news agency’s content.
Basil Moftah, Thomson Reuters managing director for the Middle East, said there were no plans to end the Zawya-Dow Jones arrangement. He noted that Thomson Reuters had a worldwide agreement to distribute Dow Jones news through its terminals.
Financial terms of the transaction were not disclosed. Zawya shares were purchased from a group of shareholders led by Saffar, a Dubai-based investment group, Thomson Reuters said.
Thomson Reuters, which provides news and information to financial, legal, accounting and healthcare professionals, has about 600 employees in the Middle East and North Africa. Zawya says it employs 200 people in Dubai and Beirut.