News Corp announced today that it has acquired Storyful, a team of journalists that sources content for traditional news outlets on social networks, for €18 million (roughly $25 million USD).

Storyful will be maintained as a stand-alone organisation within the company and continue to work with its current suite of clients, which includes The New York Times, the BBC, the Wall Street Journal and ABC News. Over the last 12 months, verified videos handled by Storyful have created 750 million views for the news publications that it works alongside.

News Corp said it would be using its own might and global influence to ramp up Storyful’s capabilities. “Through this acquisition, we can extend the village square across borders, languages and platforms,” News Corp Chief Executive Robert Thomason said.

Storyful will remain in Dublin, Ireland where it was founded in 2008, although News Corp said extra staff for advertising sales and business development would be hired for its offices in New York.

➤ Storyful joins forces with News Corp

Image Credit: WILLIAM WEST/AFP/Getty Images