Nielsen to Sell Global Connect Business for $2.7bn

Nielsen has found a buyer for its Global Connect business, in the shape of affiliates of private equity investor Advent and with a price tag of $2.7bn.

After a strategic review last year, the group announced it would be splitting its business into two independent, publicly traded companies, and looking for a buyer for Global Connect. Advent, in partnership with former TransUnion CEO Jim Peck (pictured), will now buy the business.

Advent announced a partnership with Peck in August, with the aim of acquiring businesses with growth potential in the data, analytics and information services space. At the time, Advent said it would support Peck with its operating resources and a 'significant capital commitment'. On top of the price agreed, (which is subject to working capital, cash, 'debt-like items' and other customary adjustments), Nielsen will also receive warrants in the new company. Upon completion of the takeover, Nielsen Global Connect will be a private company which will be able to continue to invest in new measurement products and solutions. The transaction was unanimously approved by Nielsen's Board of Directors.

The business, to be rebranded as NielsenIQ early in 2021, has been given a license to use the Nielsen name for its products and services for some twenty years following the sale.

Peck said that he and his team intend to work with Global Connect CEO David Rawlinson and the management team to deliver new capabilities. David Kenny, CEO of Nielsen, described the deal as a win for both Nielsen Global Connect and the rest of Nielsen, as well as for shareholders. 'The proceeds from the sale will allow Nielsen to significantly reduce debt, which will provide greater financial flexibility to execute our growth strategy and expand our role in the global media marketplace. At the same time, we are excited about this opportunity for Nielsen Global Connect and believe that moving forward as a private company will better position the business to accelerate its transformation and strengthen its market-leading position'.

Web sites: www.nielsen.com and www.adventinternational.com .