Company Blog: Alliance News receives strategic investment from PA Group and dpa to support its EMEA expansion
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.”