Platinum Buys Cision
Platinum buys Cision.
Platinum Equity buys Cision for $2.74 billion.
Cision is a global provider of media software and services to public relations and marketing communications professionals. Cision's software allows people to find key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,800 employees with offices in 22 countries throughout the Americas, EMEA, and APAC.
Tom Gores of Platinum Equity said: ‘Cision is well established as the industry-standard platform for communications professionals navigating an increasingly complex environment. This is an investment that plays to Platinum's core strengths. We will deploy our full range of global operations capabilities, financial resources, and M&A support to help the company maximize its potential.’
Jacob Kotzubei of Platinum Equity said: ‘Cision offers an impressive value proposition built through a combination of innovation, commitment to customer service, and the development of a broad suite of solutions. We will continue investing in new product development and other opportunities to grow the business. Cision has a long history of leadership providing software and services to public relations and marketing communications professionals and has developed a growing portfolio of earned media management offerings for the world's leading brands. Platinum looks forward to nurturing Cision's core business, supporting and anticipating the diverse needs of the company's customers, and driving new opportunities for innovation. As a private company, Cision will be able to make strategic investments for sustainable and profitable growth, while remaining agile and focused on operational excellence. We are excited to partner with Cision's management team as it embarks on this new chapter.’
Kevin Akeroyd of Cision said: ‘The Cision management team looks forward to partnering with the experienced and talented group of professionals at Platinum Equity. Building on the company's strong platform as a global leader in providing earned media software and services to public relations and marketing communications professionals, our near-term focus will be on improving customer experience, delivering innovative products, and increasing operating efficiencies. This transaction will give shareholders immediate and substantial cash value, while also providing us with a partner that shares in our commitment to customers and employees and can add strategic and operational value. Based on our extensive engagement with Platinum over the past months, we are confident that Platinum's support will enable Cision to execute on its strategy and next phase of growth.’
Equity financing will be provided by investment funds managed, advised, or sponsored by Platinum Equity. Platinum Equity has secured committed debt financing for the deal from Bank of America Merrill Lynch.
Gibson, Dunn & Crutcher and Willkie Farr & Gallagher LLP served as legal advisors to Platinum Equity.
Rothschild & Co, Centerview Partners, and Deutsche Bank served as financial advisors to Cision. Kirkland & Ellis served as legal advisor.
Platinum Equity buys Cision for $2.74 billion.
Cision is a global provider of media software and services to public relations and marketing communications professionals. Cision's software allows people to find key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,800 employees with offices in 22 countries throughout the Americas, EMEA, and APAC.
Tom Gores of Platinum Equity said: ‘Cision is well established as the industry-standard platform for communications professionals navigating an increasingly complex environment. This is an investment that plays to Platinum's core strengths. We will deploy our full range of global operations capabilities, financial resources, and M&A support to help the company maximize its potential.’
Jacob Kotzubei of Platinum Equity said: ‘Cision offers an impressive value proposition built through a combination of innovation, commitment to customer service, and the development of a broad suite of solutions. We will continue investing in new product development and other opportunities to grow the business. Cision has a long history of leadership providing software and services to public relations and marketing communications professionals and has developed a growing portfolio of earned media management offerings for the world's leading brands. Platinum looks forward to nurturing Cision's core business, supporting and anticipating the diverse needs of the company's customers, and driving new opportunities for innovation. As a private company, Cision will be able to make strategic investments for sustainable and profitable growth, while remaining agile and focused on operational excellence. We are excited to partner with Cision's management team as it embarks on this new chapter.’
Kevin Akeroyd of Cision said: ‘The Cision management team looks forward to partnering with the experienced and talented group of professionals at Platinum Equity. Building on the company's strong platform as a global leader in providing earned media software and services to public relations and marketing communications professionals, our near-term focus will be on improving customer experience, delivering innovative products, and increasing operating efficiencies. This transaction will give shareholders immediate and substantial cash value, while also providing us with a partner that shares in our commitment to customers and employees and can add strategic and operational value. Based on our extensive engagement with Platinum over the past months, we are confident that Platinum's support will enable Cision to execute on its strategy and next phase of growth.’
Equity financing will be provided by investment funds managed, advised, or sponsored by Platinum Equity. Platinum Equity has secured committed debt financing for the deal from Bank of America Merrill Lynch.
Gibson, Dunn & Crutcher and Willkie Farr & Gallagher LLP served as legal advisors to Platinum Equity.
Rothschild & Co, Centerview Partners, and Deutsche Bank served as financial advisors to Cision. Kirkland & Ellis served as legal advisor.
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