The Press Association has become a shareholder in a London-based financial news service that plans to expand across Europe.
PA and its German counterpart DPA (Deutsche Presse-Agentur) have taken a combined 8 per cent stake (3.86 per cent each) in Alliance News.
The company, which launched in 2013, provides real-time equities news for financial professionals and investors and currently offers coverage of every firm listed on the London Stock Exchange.
The investment will support its expansion into new markets in Europe, the Middle East and Africa.
In February this year Alliance News launched an Italian service covering companies listed in Milan and it is planning to also expand into France in the coming months, according to a spokesperson.
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…
“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.”
Picture: Reuters/Neil Hall