Cision said Tuesday it has agreed to buy PR Newswire from UBM plc. UPDATE: UBM, in a separate release, said it would receive $810 million plus $31 million of preferred equity. New York-based PR Newswire distributes press releases. Cision is a portfolio company of GTCR. Evercore and J.P. Morgan Cazenove advised UBM.
CHICAGO and NEW YORK (Dec. 15, 2015) – Cision, a global media intelligence company, has announced an agreement to acquire PR Newswire, a premier provider of multimedia communications, from UBM plc, in a transaction that will create a global leader of communications software and services. The transaction, which requires approval by the shareholders of UBM plc as well as regulatory approvals, is expected to close late in the first quarter of 2016.
PRN is a global leader in public relations (“PR”) and investor relations (“IR”) communications and related services, connecting over 30,000 customers to their target audiences through the largest distribution network of its kind in the world. Customers spanning Fortune 2000 multinationals, small businesses, public relations agencies and government entities rely on PRN to target, reach and engage the most relevant media outlets and audiences with impactful and timely content.
“Bringing Cision and PR Newswire together will enable communicators to turn data into actionable insights — the necessary link between communications and business outcomes,” explained Peter Granat, Cision CEO. “We are serious about building a comprehensive platform to help our clients manage the entire lifecycle of communications – from influencer discovery and content distribution to engagement and campaign analysis.”
The combination of Cision and PRN resources would result in a seamless and integrated communications tool for intelligence gathering, distribution, monitoring, and analytics platforms. Enhanced scale from the combination of the two companies would enable significant investments in R&D to support continued technology innovation.
“We are very excited about the transaction and the opportunities it would provide for our clients, partners and employees,” said Robert Gray, CEO of PR Newswire. “PR Newswire helps PR, IR, Marketing and Compliance professionals maximize the impact of their communications programs through best-in-class solutions and the combination with Cision would further enhance that capability.”
This transaction is the latest example of Cision’s steadfast commitment to the continued delivery of innovative products and services and advancement of marketing and communications professionals.
While the regulatory and shareholder approvals are sought it will be business as usual for both firms.
Deutsche Bank Securities Inc., Barclays and RBC Capital Markets are providing debt financing to Cision.
Cision is a leading global media intelligence company, serving the complete workflow of today’s PR and communication professionals. Offering the industry’s most comprehensive PR and social media software, rich analytics and a Global Insights team, Cision enables communicators to improve their marketing and strengthen data-driven decision making. Cision also represents the Gorkana Group, PRWeb, Help a Reporter Out (HARO) and iContact brands. Headquartered in Chicago, Cision has over 100,000 customers worldwide and maintains offices in Canada, U.K., France, Germany, Portugal, Sweden, Finland and China. For more information, visit www.cision.com or follow @Cision on Twitter.
About PR Newswire:
Having pioneered the commercial news distribution industry in 1954, PR Newswire today provides end-to-end solutions to produce, optimize and target content – from rich media to online video to multimedia – and then distribute and measure results across traditional, digital, mobile and social channels. Combining the world’s largest multi-channel, multi-cultural content distribution and optimization network with comprehensive workflow tools and platforms, PR Newswire serves over 30,000 clients from offices around the world. For more information visit www.prnewswire.com and follow @PRNewswire on Twitter.