LONDON, November 21, 2017 /PRNewswire/ --
Alliance News - a leading provider of real-time equities news for financial professionals and investors - has received investment from two of Europe's leading media organisations to support its ongoing expansion across EMEA.
PA Group, the parent company of the Press Association, the national news agency for the UK and Ireland, and German news agency, dpa (Deutsche Presse-Agentur), have taken a combined stake of just under 8% (3.86% each) in the financial news service which launched in 2013.
Alliance News provides coverage of every company listed on the London Stock Exchange - more than 2,000 companies and investment trusts - as well as economic and political news from around the world for investors.
In February 2017, Alliance News launched an Italian service, providing the same universal news coverage of all Milan-listed companies in the local language. The business has plans to progressively enter new markets such as France and other countries in the coming months.
Tom Waite, Chief Executive and Editor of Alliance News, said:
"Alliance News has been proud to work as a content partner with dpa since our inception and with PA for close to two years news now, because our readers like how their news reporting complements our own. We apply similarly strict editorial standards to different subject matter. Alliance News takes a fresh, streamlined approach to financial news, exploiting technology while keeping the authentic voice of knowledgeable journalists working from a multi-lingual newsroom. PA and dpa appreciate our nimble approach to new markets, and their investment and long experience will help to support and guide the Alliance News expansion plans."
Clive Marshall, Chief Executive of PA Group, said:
"The news agenda will continue to be dominated by business and financial developments as companies in the UK, Europe and elsewhere navigate this period of political and economic flux. Alliance News is well positioned to provide much of the coverage that decision makers rely on, and most importantly share PA's values of timely and accurate journalism."
Peter Kropsch, Chief Executive Officer of dpa, said:
"We have been following the development of Alliance News since their early days. We highly appreciate their editorial standards and entrepreneurial spirit. Tom Waite´s strategy for Alliance News fits perfectly into our perception of the future demand for news on the financial markets. dpa´s activities in this field today comprise dpa-AFX, the Frankfurt based finance news agency (76% share) and a 50% share in AWP, the Zurich based Swiss financial news agency. The cooperation with Alliance News will help to develop this approach further and we are very happy to take the position as a new shareholder together with the PA Group."
Notes to Editors
Today's news follows recent moves by PA Group to diversify its business portfolio and consolidate its position as the UK's leading provider of cross-platform content and services. In 2017, PA Group launched a new branded content agency called Commotion, acquired the video streaming business StreamAMG, and made a strategic investment in the social video creation platform, Wochit.
About Alliance News
Alliance News was founded in 2013, and its UK service quickly became known for its independent, fast and accurate coverage of every company listed on the London Stock Exchange - more than 2,000 companies and investment trusts - combined with the most relevant global economic and political news for investors. In February 2017, Alliance News launched its Italian Service, providing the same universal news coverage in Italian language of all Milan-listed companies.
Alliance News is available via a growing number of leading market-data platforms and investor-information websites in the UK, Italy and elsewhere.
For more information about Alliance News, visit http://www.alliancenews.com.
About PA Group
Headquartered in London, PA Group incorporates news, information, technology and communications businesses. It is the parent company of the Press Association - the UK and Ireland's leading multimedia news agency - along with four other specialist media companies. These are Globelynx, which provides TV-ready remotely monitored camera systems for corporate clients to connect with TV news organisations; Sticky Content, a full-service digital creative and social agency; StreamAMG, a video streaming business; and TNR, a broadcast communications consultancy. It also owns a stake in Baize Group, a leading provider of automotive content, events and PR services, and the social video creation platform, Wochit.
PA Group has 26 shareholders, made up mainly of UK national and regional newspaper publishers. The largest shareholders include dmg media Limited, News UK plc, Trinity Mirror plc and UBM plc.
The German Press Agency dpa is a trusted, accurate and independent provider of news with the digital and multimedia content to power the media at home and abroad. Our customers benefit from the extensive global network of correspondents and editors maintained by Germany's leading news wire. News gathering is completely free of outside influence which in turn guarantees that coverage lives up to the strict requirements of the dpa charter: This document lays down that reporting must be free of bias and unfettered by political, economic or governmental ideologies. Print media, radio stations, online and mobile communication providers in more than 100 countries rely on this journalistic excellence around-the-clock. Among dpa clients are parliaments, governmental and non-governmental organisations as well as businesses and public relations agencies. They all derive news content from the wide range of products and services provided by the dpa group of companies. http://www.dpa.com.
SOURCE PA Group