12.17.15

Cision, a media-intelligence company based in Chicago, announced that it would acquire the news-release company, PR Newswire and, by doing so, it will create a powerful one-stop-shop for PR professionals and others in the media industry. Cision provides the media and PR industry with a comprehensive software suite for professionals looking to reach traditional and social media using a massive database of contacts, tools for outreach along with rich analytics and insights. PR Newswire is a global leader in public relations and investor relations communications, providing 30,000 customers with the largest targeted press release distribution network of its kind.  Cision acquired PR Newswire for $841 million and the deal is expected to close in the first quarter of 2016.

In making this purchase, Cision stated that, “”the addition of PR Newswire to Cision’s growing portfolio represents a key milestone in our mission to create the most comprehensive platform for managing the communications lifecycle effectively.”

The deal will also help Cision build out tools for “intelligence gathering, distribution, monitoring and analytics,” the company said in a statement. And don’t count on Cision to stop there. According to the Chicago Tribune, “following this deal, Cision will continue to look at acquiring small social media and content marketing companies.”