Euronext NV is buying a corporate news distribution service.

The exchange announced that it has signed an agreement to acquire Hugin ASA. Hugin was founded in Norway in 1995 and currently has 10 offices in nine European countries.

Euronext expanded into the corporate news distribution market in March this year when it acquired the French firm Companynews. The firm says that the acquisition of Hugin will increase Euronext’s presence on the market for corporate news distribution, broadening its range of services for both listed and unlisted companies.

Hugin and Companynews will be integrated to create a Euronext fully owned subsidiary with its own management team. The acquisition is expected to be completed before the end of this year at a price of 20.5 million euros (enterprise value, cash and debt free).