Marketwired was a press release distribution service headquartered in

Toronto Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the ancho ...

Ontario Ontario ( ; ) is one of the thirteen provinces and territories of Canada.Ontario is located in the geographic eastern half of Canada, but it has historically and politically been considered to be part of Central Canada. Located in Central Ca ...

, Canada. It was founded in 1993 and incorporated in the U.S. in 1999. In 2018, it was merged into GlobeNewswire.

Corporate history

Marketwired was founded as Internet Wire in October 1994 by PR agency owner Michael Terpin and online marketer Michael Shuler in

Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world' ...

California California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...

, United States. It received $17.5 million in venture capital in January 2000. The company changed its name to Market Wire in April, 2003, after making a partnership with NASDAQ, where its services would be recommended to listed companies. In 2000, a former employee of Internet Wire used the service to perpetrate an insider trading scam. He shorted Emulex stock, then published a fraudulent press release reporting problems at

Emulex Corporation Emulex Corporation is a provider of computer network connectivity, monitoring and management hardware and software. The company's I/O connectivity offerings, including its line of Ethernet and Fibre Channel-based connectivity products, are or ...

, which lost 62 percent of its value in morning trading. He was found out by the FBI and sentenced to 44 months in prison. In 2006, Marketwired (then known as Marketwire) was acquired by CCNMatthews, a 25-year-old news distribution company in Canada. The company adopted the name Marketwire unilaterally. At that point, it was majority-owned by

OMERS The Ontario Municipal Employees Retirement System (OMERS) is a Canadian public pension fund, headquartered in Toronto, Ontario. OMERS is a defined benefit, jointly sponsored, multi-employer public pension plan created in 1962 by Ontario provinc ...

Private Equity, which manages the private equity activities of OMERS Administration Corporation, a Canadian pension fund. The company's history can be traced back to 1957. In July 2010, Marketwire acquired

Sysomos Sysomos Inc. is a Toronto-based social media analytics company owned by Outside Insight market leaders Meltwater. History Sysomos was founded by Nilesh Bansal and Nick Koudas. The company is a spinoff of the University of Toronto research pro ...

, a social monitoring and analytics service, offering customers the ability to track their social presence across sites like Facebook and Twitter. In October 2011, Marketwire filed a lawsuit accusing

PR Newswire PR Newswire is a distributor of press releases headquartered in Chicago. The service was created in 1954 to allow companies to electronically send press releases to news organizations, using teleprinters at first. The founder, Herbert Muschel, ...

of trying to steal confidential information and trade secrets, seeking at least $25 million in damages. In April 2013, Marketwire re-branded, changing its name to Marketwired and introducing the tagline "The power of influence" with an updated logo. In February 2016, MarketWired was acquired by

Nasdaq, Inc. Nasdaq, Inc. is an American multinational financial services corporation that owns and operates three stock exchanges in the United States: the namesake Nasdaq stock exchange, the Philadelphia Stock Exchange, and the Boston Stock Exchange, and ...

In January 2018 Nasdaq's public relations business lines were acquired by

West Corporation Intrado, formerly West Corporation, is an American telecommunications company. It became a subsidiary of Apollo Global Management on October 11, 2017. Business Operations Intrado reorganized in five main segments: Cloud Collaboration, Life and ...

. Marketwired was merged into GlobeNewswire.

References

{{Reflist, 1 Press release agencies Companies based in Toronto Companies established in 1982 OMERS companies 1982 establishments in Ontario News agencies based in Canada

Corporate history

See also

References