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CHICAGO – Cision has reached a $ 450 million deal to purchase Brandwatch, a global consumer intelligence and social listening company.
Cision said the acquisition aims to complement its news distribution and media monitoring capabilities, enabling the company to offer clients the full suite of analytics and information services that are quickly becoming a key component. public relations, marketing and digital customer engagement.
Giles Palmer, founder and CEO of UK-based Brandwatch, will stay with the company. The deal is expected to close in the second quarter of this year.
The combined company will have a large global footprint. Brandwatch has 10 offices around the world and Cision has 24.
“Continuous digital change and widespread adoption of social media is rapidly and fundamentally changing the way brands and organizations interact with their customers,” said Cision CEO Abel Clark. “This makes it imperative that public relations, marketing, social services and customer service teams fully integrate the unique insights now available into consumer-focused strategies. Together, Cision and Brandwatch will help our customers better understand, connect and engage with their customers at scale across all channels. “
The move comes about a year after Platinum Equity bought Cision for $ 2.7 billion, making the then public private company, with an eye on global growth.
Clark joined Cision in September after leaving TruSight, where he led the company as President and CEO. He succeeded Kevin Akeroyd, who led the company through a period of restructuring.
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