Cision will acquire PR Newswire (PRN) in an $841 million deal that, stated a release, 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, continued the release, 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, a global media intelligence company, 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.”
The acquisition of PR Newswire by Cision follows their 2014 addition of Beltsville, Md-based Vocus.