Acquire Media Purchases NewsEdge from The Thomson Corporation

FOR IMMEDIATE RELEASE:

NEW YORK, LONDON and REYKJAVIK, Iceland, July 19 /PRNewswire/ -- Acquire Media, in partnership with a consortium of Icelandic investors including Baugur Group, has completed its acquisition of US-based news and current awareness monitoring service NewsEdge from The Thomson Corporation. Terms of the transaction were not disclosed.

The operations of NewsEdge will be merged with those of New Jersey-based Acquire Media, creating significant synergies. The combined entity will be run by the in-place Acquire Media team, consisting of Lawrence C. Rafsky, CEO; Bradley J. Scher, President and COO; and Robert E. Ungar, CTO.

Current NewsEdge products and services will be retained and improved, as will its technical center in Massachusetts.

"We are thrilled to join up with the news experts at NewsEdge, the pioneer in real-time news filtering and alerts," Acquire Media Chief Executive Lawrence C. Rafsky said. "We are confident that Acquire Media's advanced technologies and digital media platforms can leverage the years of intellectual capital preserved at NewsEdge, producing an unparalleled on-line news experience for professionals."

Baugur Group's Chief Executive Gunnar Sigurdsson said, "Baugur Group has been an active investor in media for a number of years, with investments in print, broadcast media and free press in Iceland and Denmark. Today's acquisition of NewsEdge further strengthens that portfolio, and once merged with Acquire Media creates a strong investment opportunity in the US. The operational efficiencies and opportunities provided by the merger are substantial, as are the benefits that sound and solid management will bring."

Thomas Naysmith, the former Managing Director of UK-based news and information provider M2 Communications, will become the Managing Director of International Operations of the merged company, based in London. Gunnar Johann Birgisson and Investment Manager Gunnlaugur Arnason from the Media & New Ventures Division at Baugur Group will join the board of the merged company, with Birgisson as Chairman.

The consortium was advised by Landsbanki Teather & Greenwood.

About Baugur Group

Baugur Group (http://www.baugurgroup.com) is a private, international investment firm focusing on investments within retail, property and media in Iceland, UK, Scandinavia, and the United States. Companies related to Baugur Group employ some 75,000 people worldwide with a total turnover of 9.8 billion pounds sterling (US$20.0 billion). A few of the Group's notable assets include House of Fraser, the renowned U.K. chain of department stores; Hamleys, a toy retailer; Magasin du Nord, the famous Danish department store chain; and, the fashion chains MK One, Jane Norman and Mosaic Fashions Ltd. Important media and new ventures investments include 365 hf. and the electronic communications and IT company, Teymi hf. The CEO of Baugur Group is Gunnar Sigurosson, and Jon Asgeir Johannesson is Executive Chairman.