An agreement has been entered regarding the sale of Market News International Inc. (MNI) from Deutsche Börse which will divest the business to Hale Global. This is according to an official statement today regarding the deal, which is expected to close during this third quarter already underway.
MNI has bureaus across the U.S., Europe, and Asia, and has press credentials recognized by various departments of the US government, as well as the Bank of Japan and ECB and the governments and central banks of all G-7 nations.
As a primary news source, MNI provides macroeconomic news including markets intelligence for foreign exchange professionals and global fixed income markets, and powers a number of trading platforms and online retail brokerages.
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Until last year, MNI had been under the stewardship of Michael Connor as CEO, who was with the firm for over twenty years including when it was acquired in 2003 by Xinhua news agency in China, before Deutsche Borse bought the company for $10 million in 2008. Mr. Connor joined research firm Gimme Credit earlier this year after departing MNI in 2015, in addition to a number of other roles he holds currently.
Deutsche Börse says its divestment of MNI will help it focus on growth areas under its ‘accelerate’ strategy as MNI contributed less than 1 percent of its group net revenues last year. Terms of the deal were not disclosed and are subject to a confidentiality agreement.
Hale Global is an investment holding company that has a track-record of developing excellence in journalism, with in-house software and mobile development teams, and experienced with corporate divestitures from parent firms, as described in the official announcement regarding the deal.