In a move to grow its capital formation division, TMX Group Ltd. is buying newswire company Newsfile Corp.
TMX announced it is buying Newsfile, which operates a press release distribution and regulatory filing service — including the Canadian and U.S. regulatory filing systems, SEDAR+ and EDGAR, respectively.
Terms of the deal were not disclosed.
“The acquisition of Newsfile, a client-first newswire and regulatory filing solutions provider, bolsters our capital formation business as we continue to expand our offerings beyond listings,” said Loui Anastasopoulos, CEO of the Toronto Stock Exchange and global head of capital formation for TMX Group, in a release.
TMX’s capital formation division includes its listing businesses — the senior market, TSX, its venture market, TSX Venture Exchange — and TSX Trust, which provides companies with trust, registrar, transfer agency and foreign exchange services.
“By combining Newsfile’s strengths with the brand, reach, and scale of TMX, we are confident that we can continue Newsfile’s long track record of growth, innovation, and exemplary client service,” said Bill Batiuk, president of Newsfile.