U.S. media intelligence services provider Meltwater has acquired Infomart, the media monitoring and analytics platform of Canadian publisher Postmedia Network Canada Corp (TSX: PNC.A/B). In a separate statement, Postmedia said the deal’s purchase price is $38.25 million. It is expected to close in August. Meltwater, which is based in San Francisco, said the transaction will expand its presence and offering in North America. The company earlier this year closed a US$60 million debt financing with Silicon Valley Bank and Vector Capital to support its acquisition strategy. Postmedia in 2016 struck a deal with bondholders to reduce its debt.
Meltwater Continues its Global Expansion with Acquisition of Infomart
SAN FRANCISCO, June 22, 2017 (GLOBE NEWSWIRE) — Meltwater, a global leader in media intelligence, announces a definitive agreement with Canadian newsmedia company Postmedia Network Inc., to acquire its media monitoring division, Infomart. The deal is subject to customary closing conditions, including the receipt of certain consents and the entering into of certain licenses and is expected to close on or about August 15, 2017.
This deal will further expand the company’s presence and offering in North America. Having been named a Great Place to Work in Canada for two consecutive years, Meltwater considers its Canadian presence to be of significant importance. Following this acquisition, Infomart clients will benefit from an expanded suite of products and offerings while continuing to enjoy their favorite features and benefits from Infomart’s services, and Meltwater’s clients will enjoy access to an unparalleled level of local Canadian media intelligence.
“We look forward to welcoming the Infomart team and client base to the Meltwater family upon closing of the transaction, and to providing clients with the Meltwater experience and insights needed to make critical business decisions,” says Kaveh Rostampor, Head of Meltwater in Americas. “Canada is a market where Meltwater can deliver significant value to clients, and this reaffirms our commitment to growing our footprint in North America as we continue to work toward creating the most innovative and dynamic media intelligence platform in the world.”
Founded in 2001, Meltwater’s CEO Jorn Lyseggen bootstrapped the company with $15,000 and now, with more than 1,500 employees globally, Meltwater services 50 percent of Fortune 500 companies. The company has 55 offices throughout six continents and its operations in Canada span offices in Toronto, Vancouver and Montreal.
“We’re confident that Meltwater and Infomart are a great fit for each other,” said Andrew MacLeod, Executive Vice President and Chief Operating Officer, Postmedia. “In the coming weeks we will work together to ensure a seamless transition for Infomart’s employees and clients.”
This news comes off the heels of Meltwater’s acquisition of Wrapidity, an artificial intelligence-powered company building technology that automates data extraction from web content, in February 2017, and Klarity, a Hong Kong-based social media analytics platform that delivers highly-localized content for the Asian market, in June 2017.
Meltwater is actively seeking investment opportunities and partnerships to continue expanding its media intelligence services globally.
Meltwater helps companies make better, more informed decisions based on insights from the outside. More than 25,000 companies use the Meltwater media intelligence platform to stay on top of billions of online conversations, extract relevant insights, and use them to strategically manage their brand and stay ahead of their competition. With over 60 offices on six continents, Meltwater is dedicated to personal, global service built on local expertise. Meltwater also operates the Meltwater Entrepreneurial School of Technology (MEST), a nonprofit organization devoted to nurturing future generations of entrepreneurs. For more information, follow Meltwater on Twitter, Facebook, LinkedIn, YouTube, or visit meltwater.com.
Infomart, a division of Postmedia Network Inc. and one of Canada’s leading media consultancies, provides the most complete integrated solutions, including media monitoring and analytics, Research and Insights Reports, Executive Summaries and corporate data to major players in virtually every industry. Helping clients gain a deeper understanding of their brand’s media impact in the news and across social media, Infomart provides the tools and insights they need to manage, measure and improve their media strategies and campaigns. For more information, visit www.infomart.com.
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