Pearson, the publisher of the Financial Times, has bought the Mergermarket Group - an online financial news service - for £101 million.

The group, which was founded in 2000, employs 160 journalists in 31 countries to provide financial news, data and comment to leading investment banks, law firms and private equity houses.

The firm's principal product is mergermarket - supplying databases of transactions and third party news.

Recently it launched a range of new services including debtwire for debt traders, dealreporter for mergers news and wealthmonitor for the private banking sector.

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