Cision Ltd., a leading global provider of public relations software and services and marketing professionals, has acquired TrendKite.
Cision has acquired TrendKite at $ 225 million purchase price. Approximately $ 94 million in cash and around 10.2 million shares of Cision were considered to be issued subject to the approval of the New York Stock Exchange.
TrendKite is the digital PR platform which focuses on earned media. TrendKite transforms the way the world views of the media gain by using artificial intelligence and Big Data analytics to optimize the impact of public relations on the reputation of a company, on web traffic and on company goals.
Cision has distributed its assets for an estimated cash consideration of $ 49 million with the potential to add cash based on the implementation of certain measures in the coming 12 months.
Expanding its leadership
Kevin Akeroyd, Cision’s Chief Executive Officer, said the TrendKite acquisition represents an exciting opportunity to acquire a fast-growing SaaS business with highly complementary capabilities. “The addition of TrendKite’s award-winning application platform, known for its innovation and dynamic user experience, gives our customers additional ways to demonstrate and measure the business impact of their earned media communications.We are pleased to have delivered strong preliminary results for the fourth quarter. We continue to focus our efforts on delivering best-in-class products and services to our customers, executing on our remaining synergies, and driving towards our long-term financial goals and objectives.”
Erik Huddleston, former TrendKite CEO and new Cision President stated, “TrendKite and Cision have a shared understanding of the communications industry’s need to quantify the business value of earned media campaigns. The combination of TrendKite’s rich analytics platform and the Cision Communications Cloud platform will powerfully impact our joint customer base with the most robust, end-to-end Earned Media Management solution available.”
