Business Wire Enlists EDGAR Online as XBRL Technology Partner
29 November 2011 - 12:00AM
Business Wire
EDGAR® Online, Inc. (NASDAQ: EDGR), a premier provider of
fundamental financial data, analytics and disclosure management
services, today announced that it has signed a deal with Business
Wire, the global leader in distributing press releases. Business
Wire will leverage EDGAR Online’s technology to create and produce
XBRL filings to help its customers satisfy U.S. Securities and
Exchange Commission (SEC) reporting requirements.
As an active participant in the development and promotion of the
XBRL standard, Business Wire works with its corporate issuer
clients as a single provider for all their compliance needs. The
company, which employs accountants to staff its XBRL desk, sought a
software solution capable of delivering superior performance on a
complete platform and at multiple service levels.
“We looked at several XBRL technology options and found that
EDGAR Online’s offering best meets the needs of our clients, who
trust us to provide accurate, complete filing data in a timely
manner,” said Cathy Baron Tamraz, chairman and CEO of Business
Wire. “Our publicly traded customers look to Business Wire for
expertise and guidance in all matters related to XBRL mapping,
tagging and EDGAR filing, and EDGAR Online ensures we are equipped
to meet those expectations.”
As part of the agreement, EDGAR Online will provide Business
Wire with dedicated and complete access to its hosted Xcelerate
service, which will support the creation of XBRL instance documents
to be used for submitting filings with the SEC.
“Business Wire recognized an opportunity to increase its value
to clients that need the full spectrum of investor relations and
compliance support, including XBRL tagging and filing expertise,”
said President and CEO Robert J. Farrell of EDGAR Online. “With
EDGAR Online’s Xcelerate as its foundation, Business Wire is
equipped to deliver XBRL assistance that improves the flow of
business information and meets the regulatory requirements of the
industry.”
About EDGAR® Online, Inc.
EDGAR® Online (NASDAQ: EDGR) provides financial data,
analytics and disclosure management solutions to help corporations
and institutional investors facilitate compliance and management of
regulatory disclosure filings. In addition to developing a variety
of unique as-reported and normalized data sets, EDGAR Online is an
industry leader in XBRL (eXtensible Business Reporting Language)
processing. Thousands use the company’s solutions, including U.S.
public companies, mutual funds, leading financial analysts and
institutional investors, as well as global regulators such as the
FDIC, Banque de France and the U.S. Securities and Exchange
Commission. The company delivers its solutions, including UBmatrix®
XBRL software solutions, through an extensive network of partners,
including LexisNexis®, NASDAQ OMX, Oracle, PR Newswire, RR
Donnelley and SAP.
About Business Wire
Business Wire, a Berkshire Hathaway company, celebrates its 50th
anniversary in 2011 as the global leader in press release
distribution and regulatory disclosure. Public relations and
investor relations professionals rely on Business Wire for both
broad-based and targeted market reach. A recognized disclosure
service in the United States, Canada and a dozen European
countries, Business Wire handles XBRL tagging, document formatting
and regulatory filing into EDGAR, SEDAR and other systems. Business
Wire provides online newsroom hosting and integration services as
well as search engine optimization, mobile distribution and
detailed measurement on every press release. Its patented NX
delivery platform provides simultaneous full-text posting of
Business Wire content to news systems and websites in virtually any
country or language. With 31 bureaus worldwide, Business Wire
offers local service and global reach.
Use of Forward-Looking Statements
This press release may contain forward-looking statements. These
statements relate to future events or to future financial
performance and may include, without limitation, statements
regarding our future growth prospects, future demand for our XBRL
products/services and future innovations in our data and solutions
and subscriptions businesses. These forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause our actual results, levels of activity, performance,
or achievements to be materially different from any future results,
levels of activity, performance, or achievements expressed or
implied by these forward-looking statements. In some cases, you can
identify forward-looking statements by the use of words such as
"may," "could," "expect," "intend," "plan," "seek," "anticipate,"
"believe," "estimate," "predict," "potential," or "continue" or the
negative of these terms or other comparable terminology. You should
not place undue reliance on forward-looking statements because they
involve known and unknown risks, uncertainties and other factors
that are, in some cases, beyond our control and that could
materially affect actual results, levels of activity, performance,
or our growth strategy. For further information about the factors
that could affect EDGAR Online’s future results, please refer to
our filings with the Securities and Exchange Commission. We assume
no obligation to publicly update or revise these forward-looking
statements for any reason, whether as a result of new information,
future events, or otherwise.
EDGAR® is a federally registered trademark of the U.S.
Securities and Exchange Commission. EDGAR Online is not affiliated
with or approved by the U.S. Securities and Exchange
Commission.
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