Metal Bulletin buys online news provider Fast Markets

August 16, 2016 5:40 AM EDT

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LONDON (Reuters) - The parent company of Metal Bulletin, which specializes in providing benchmark metals prices, has bought online news provider Fast Markets for $13 million.

Euromoney Institutional Investor Plc, the owner of Metal Bulletin, said in a statement it bought Fast Markets to extend its capabilities into real-time data delivery.

Metal Bulletin specializes in reporting prices of metals that are often used as benchmarks by buyers and sellers of physical material.

Fast Markets, established in 1999, provides real-time market information on commodity exchanges such as the London Metal Exchange and the CME.

"This acquisition complements Metal Bulletin and extends Euromoney's global coverage of metals markets," said Metal Bulletin's Managing Director Raju Daswani.

(Reporting by Eric Onstad; Editing by Adrian Croft)

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