Dubai-based financial services and investment group, Saffar, said Monday it has sold its online Mideast business news service Zawya to Thomson Reuters.
"The sale of Zawya to Thomson Reuters is a testament to the fact that Zawya has become an unsurpassed regional platform," said Yousef Al-Quraishi, chairman of Saffar, in a statement.
The value of the deal was not disclosed.
Zawya is an online business platform focusing on the Middle East and North Africa, which in addition to news, provides detailed profiles of the top companies in the region.
Thomson Reuters was created in 2008 with Canadian media giant Thomson Corp's takeover of British-based financial and information company, Reuters.