SOURCE: Marketwire

May 06, 2008 10:00 ET

Marketwire China Holdings Acquires Media Services Asia

Expands Marketwire's Asia-Pacific News Distribution for All Clients and Allows Asia-based Companies to Distribute News Across Marketwire's Global News Distribution Platform

TORONTO--(Marketwire - May 6, 2008) - Marketwire Incorporated (Marketwire), a full-service newswire and communications workflow solutions provider, today announces that its subsidiary, Marketwire China Holdings (HK) Limited (Marketwire China), is acquiring certain assets and a license from Media Services Asia Limited (Media Services). This acquisition expands the scope and reach of Marketwire's news release distribution services in Asia, the Middle East and Africa not only for its North American and European clients, but for Asia-based companies looking to distribute their news into the region and across Marketwire's global news distribution platform spanning North America, Europe, Latin America and now Asia. Media Services, formerly a wholly owned subsidiary of Upstream Marketing and Communications Inc. (AIM: UPS), an Asia-based full services marketing and corporate communications network, had previously entered into an agreement with Marketwire to provide its clients with news release distribution to these regions.

"The acquisition of Media Services Asia is in line with Marketwire's strategy to build a global infrastructure for news distribution, media management and monitoring services," said Michael Nowlan, president and CEO, Marketwire. "Marketwire is committed to investing in regional resources to provide our growing international client base with a world class platform that will serve their evolving communications needs."

As part of the agreement, Media Services will exit the newswire business while Upstream continues to offer high value-added digital communications services to support the corporate communications, public relations and investor relations of its clients.

"We created a relevant, effective product for the Asia Pacific region," commented David Ketchum, Executive Director of Media Services Asia. "It is a testament to the quality of the news distribution services provided that a global leader such as Marketwire should choose to first partner with us, and then ultimately move to acquire these assets and a license."

"We believe in the great value that regional companies with deep knowledge and experience in local markets can provide," said Hector Botero, vice president, emerging markets, Marketwire. "Media Services Asia provides years of experience, knowledge and understanding of the Asia Pacific media and communications market and we are happy to welcome it to the Marketwire family."

About Marketwire

The only fully integrated North America-based global newswire, Marketwire, Inc. is a full-service partner to IR, PR and MarCom professionals seeking top-tier news distribution, media management, multimedia and monitoring solutions. Marketwire's customer-centric corporate philosophy focuses on being the best by infusing every aspect of its business with the following core attributes: precision, adaptability, innovation and simplicity.

Marketwire delivers its clients' news to the world's media and financial communities, fulfilling disclosure requirements in North America in compliance with the Securities and Exchange Commission (SEC) and the Toronto Stock Exchange (TSX), and serving as Primary Information Provider (PIP) with the UK's Financial Services Authority (FSA). With a reputation for technology leadership, Marketwire offers innovative products and services -- including Social Media, Search Engine Optimization, Dashboard Mobile Financial, News Dashboard coverage reports, exclusive access to networks such as the Canadian Press Wire Network, Easy IR and Easy PR workflow solutions, and more -- that help communication professionals maximize their effectiveness while ensuring accuracy and best practices. Having merged companies (Market Wire and CCNMatthews) in April 2006, and enjoying a combined history of 25 years of service, Marketwire is now majority-owned by OMERS Capital Partners, the private equity arm of one of Canada's largest pension funds. Marketwire distributes the majority of press releases issued by publicly traded companies in Canada and serves more than 8,000 clients worldwide through 18 offices on four continents. For more information, visit us at www.marketwire.com.