Cision acquires PR Newswire from UBM plc in $841M deal
The transaction, which requires UBM plc shareholder and regulatory approvals, is expected to close late in the first quarter of 2016
NEW YORK and CHICAGO, – December 15, 2015 — PR Newswire announces that Cision, the global media intelligence company, has agreed to acquire PR Newswire from UBM plc in a transaction to create a global leader of communications software and services. The transaction, which requires UBM plc shareholder and regulatory approvals, is expected to close late in the first quarter of 2016. While regulatory and shareholder approvals are sought it will be business as usual for both firms.
Serving over 100,000 customers globally, Cision provides award-winning media intelligence software and solutions ranging from influencer databases and content distribution to social media analytics and insights. Upon completion of the transaction, Cision and PR Newswire would integrate to deliver best-in-class solutions providing clients with leading technology and service, deep relationships with media and influencers and the world’s largest multi-channel distribution network.
“Over 60 years, PR Newswire has established itself as the leading global multichannel distribution platform enabling PR, IR and marketing professionals to reach target audiences and measure the impact of their messages,” said Robert Gray, CEO. “I’m excited about the combination with Cision, which would provide customers an unparalleled breadth of solutions enabling communicators to be efficient, data-driven and accountable. We expect significant benefits for all of our stakeholders through the transaction.”
Peter Granat, CEO of Cision, said, “The addition of PR Newswire to Cision’s growing portfolio represents a key milestone in our mission to create the most comprehensive platform for managing the communications lifecycle effectively. PR Newswire’s outstanding reputation and global reach add another valuable dimension to the quality suite of products our clients have come to expect from Cision.”