Cision (NYSE: CISN), a leading global provider of software and services to public relations and marketing communications professionals, on Tuesday announced that it has entered into a definitive agreement to be acquired by an affiliate of Platinum Equity in an all cash transaction valued at approximately $2.74 billion. The company’s board of directors has unanimously approved the transaction. Per the terms of the agreement, an affiliate of Platinum Equity will acquire all outstanding ordinary shares of Cision at a price of $10.00 each. Cision will hold a special shareholders meeting following the filing of a definitive proxy statement with the U.S. Securities and Exchange Commission (“SEC”) and subsequent mailing to its shareholders. The proposed transaction is anticipated to close during the first quarter of 2020, subject to satisfaction of customary closing conditions, antitrust regulatory approvals and shareholder approval. Cision may solicit third party acquisition proposals until November 12, 2019. In addition, the company announced that it will be filing its quarterly report on Form 10-Q reporting its third quarter financial results. “This transaction will provide shareholders with 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,” Cision chief executive officer Kevin Akeroyd stated in the news release. “Based on our extensive engagement with Platinum over the past several months, we are confident that Platinum’s support will enable Cision to execute on its strategy and next phase of growth.”
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Cision Ltd. (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision’s software allows users to identify 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. For more information about its award-winning products and services, including the Cision Communications Cloud(R), visit www.Cision.com.
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