New York - PR Newswire, the New York-based provider of electronic press release distribution, targeting, measurement and broadcast services, announced on Monday that it has signed a definitive agreement to acquire Xinhua Finance, a corporate announcement distribution service in China.

The deal also includes Xinhua Finance's corporate announcement businesses in Hong Kong, Singapore and Taiwan.

Financial terms of the acquisition were not disclosed.

Xinhua's combined operations employ around 50 people.

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