History
Business Wire was founded on October 2, 1961 by Lorry I. Lokey. Cathy Baron Tamraz became CEO and president on December 16, 2005.
On January 17, 2006, Berkshire Hathaway announced that it was purchasing Business Wire for an undisclosed amount. This acquisition was completed on March 1, 2006.
On September 15, 2005 Business Wire established Regulatory Disclosure networks in France, Sweden, Switzerland and Luxembourg. The move came in anticipation of the anticipated implementation of the European Union's Transparency Obligations Directive (TOD). On June 1, 2005 Business Wire entered the German Ad-Hoc market with a disclosure network for companies with primary or secondary listings on the Deutsche Boerse. The service was established in compliance with BaFin, Germany's national securities regulator.
On January 10, 2005 Business Wire established an Asian hub with the opening of its Tokyo bureau, and later that year added Japanese, making the site available in seven languages On September 27, 2006, Business Wire and Vocus, Inc. (NASDAQ:VOCS) announced the two companies had entered into a strategic partnership in which Business Wire would use a private label version of Vocus’ PRWeb press release distribution platform to provide a new search engine optimized (SEO) and social media distribution service. The platform is called EON:Enhanced Online News.
On April 24, 2007 the U.S. Patent and Trademark Office awarded a patent to Business Wire for its Internet-based news distribution platform, known as 'Business Wire NX'. The United States Patent and Trademark Office awarded 'NX' Patent N. 7069244 for its 'simultaneous network news distribution' capabilities.
On January 1, 2007 Autorité des marchés financiers, the French Financial Markets Regulator, approved Business Wire to operate as a Regulatory Disclosure Service in France. On December 14, 2007 it was announced that Business Wire had named Phyllis Dantuono and Greg Castano to be co-chief operating officers.
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