BRKA Berkshire Hathaway Inc (class A)

Nasdaq Inc. said it would buy news release distributor Marketwired for an undisclosed price.

Marketwired, which distributes news releases and economic data to investors and media companies, has been owned by OMERS Private Equity, the private equity arm of one of Canada's largest pension funds, since 2006.

Nasdaq, which is known primarily for its eponymous electronic stock exchange, has been expanding into more business services such as investor relations management. In October the exchange operator acquired SecondMarket Solutions Inc., a company that helped private companies facilitate trading of their shares.

In a release, Nasdaq said its clients will benefit from Marketwire's social media tools and analytics. "As our clients' needs continue to expand, we will be well-positioned to offer new tools, content, and services to meet their evolving IR and PR challenges and opportunities," said Adena Friedman, Nasdaq's chief operating officer, referring to investor relations and public relations.

The deal is expected to add to adjusted earnings within a year of closing, which is expected in the first quarter.

The Toronto, Canada-based Marketwired and other competing wires such as Berkshire Hathaway Inc.'s Business Wire were allegedly hacked and unreleased information was used facilitate illicit trades. Nine people were charged for the scheme in August.

News release wires have come under scrutiny for their relationships with high-frequency traders. In 2014 Marketwired signed a deal with New York Attorney General Eric Schneiderman to stop providing the releases directly to high-frequency traders.

Nasdaq shares rose 1.5% to $60.87 in morning trading.

Write to Austen Hufford at austen.hufford@wsj.com

(END) Dow Jones Newswires

February 12, 2016 11:15 ET (16:15 GMT)

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