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Two Sales to Proceed Following Cision Verdict
PR software firm Cision has secured antitrust approval for the acquisition of press release distributor PR Newswire from UBM Plc, on condition that it must sell its Agility media contact database. A buyer, Innodata, is already lined up for the latter.
The decision, announced by the US Justice Department on Friday, clears the way for Agility's pre-agreed acquisition by business information firm Innodata, agreed last month. Whilst terms of the latter deal have not been disclosed, UBM agreed a price of $841m for the main sale, as it looks to focus on its events business.
The Agility and Agility+ applications and platform, along with a global media database and customer contracts in the US and UK should now transfer to Innodata 'seamlessly', according to PR Newswire CEO Robert Gray, giving 'both the platform and the talented Agility team the opportunity to grow and succeed'.
Web sites: www.innodata , www.prnewswire.com , www.cision.com .
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