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Platinum Equity Completes $2.7 Billion Acquisition Of Cision

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Platinum Equity Completes $2.7 Billion Acquisition Of Cision

CEO Insights team, Press Release

Cision, a leading global provider of software and services to public relations and marketing communications professionals, announces that it has been acquired by an affiliate of Platinum Equity in full cash transaction valued at approximately $2.7 billion.

Platinum Equity’s Chairman & CEO Tom Gores states, “Cision is well established as the industry standard platform for communications professionals navigating an increasingly complex environment.” Adding on to it, he says, “This is an investment that plays to Platinum's core strengths. We will deploy our full range of global operations capabilities, financial resources and M&A support to help the company maximize its potential.”

Kevin Akeroyd, Cision's Chief Executive Officer says, “As a private company, Cision is well positioned to meet both our financial and business goals.” He also avers, “The Cision management team looks forward to partnering with the experienced and talented group of professionals
at Platinum Equity. Building on the company's strong platform as a global leader in providing earned media software and services to public relations and marketing communications professionals, our near-term focus will be on improving customer experience, delivering innovative products, and increasing operating efficiencies.”

The Cision management team looks forward to partnering with the experienced and talented group of professionals at Platinum Equity


Speaking on the transaction, Platinum Equity Partner Jacob Kotzubei says, “Cision offers an impressive value proposition built through a combination of innovation, commitment to customer service and the development of a broad suite of solutions. We will continue investing in new product development and additional opportunities to grow the business.”

Gibson, Dunn & Crutcher LLP served as M&A legal counsel and Willkie Farr & Gallagher LLP served as financing legal counsel to Platinum Equity on the Cision acquisition. Rothschild & Co served as lead financial advisor to Cision and its Board of Directors. Centerview Partners LLC and Deutsche Bank Securities Inc. also served as financial advisors to Cision. Kirkland & Ellis LLP acted as legal counsel to Cision.
Source : Press Release

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