Thomson Reuters Corp today said that it has acquired privately held Zawya Ltd, an online service that supplies business and financial information about the Middle East and North Africa.
The New York-based company did not disclose the financial terms of the transaction, but said it acquired Zawya from a group of shareholders led by Dubai-based investment firm Saffar.
''The acquisition is in line with Thomson Reuters' long-term commitment to investing in the MENA region,'' it added.
Dubai-based Zawya, is a leading online business intelligence platform. The firm allows professionals to find and connect to the right business and investment opportunities in the Middle East and North Africa region.
Zawya's wide range of specialised content and tools include detailed profiles on the top companies in the MENA region, live news, comprehensive industry and asset class research, as well as an exclusive online network for professionals focusing on the region.
Zawya has a partnership with Dow Jones Newswires, part of Rupert Murdoch's News Corp and a competitor of Thomson Reuters, to distribute the news agency's content.
"By completing this acquisition, a wider group of users such as small and medium sized enterprises (SME), governments, family offices and financial institutions in and outside of the MENA region will have access to a single source of information providing rich content, research tools, deep subject matter expertise, and proprietary data," said Russell Haworth, managing director, Middle East and North Africa of Thomson Reuters.