Cision Ltd. acquired Trendkite, Inc. from Harmony Partners, Silverton Partners, Adams Street Partners, LLC, Battery Ventures Mercury Fund and Noro-Moseley Partners for approximately $220 million.
January 23, 2019
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Cision Ltd. (NYSE:CISN) acquired Trendkite, Inc. from from Harmony Partners, Silverton Partners, Adams Street Partners, LLC, Battery Ventures Mercury Fund and Noro-Moseley Partners for approximately $220 million on January 23, 2019. The consideration consisted of approximately $94.1 million in cash consideration, the issuance of approximately 10.3 million ordinary shares and up to $3.2 million of deferred payments due in 12 months in cash of approximately $1.3 million and ordinary shares of approximately $1.9 million. The cash portion of the consideration will be funded with a combination of cash on hand and additional borrowing under the First Lien Dollar Credit Facility of $75 million. TrendKite will become part of the Cision Communications Cloud product offering. TrendKite had revenues of approximately $25.4 million for the twelve months ended December 31, 2018. Erik Huddleston will become President of Cision following the transaction. The consideration shares will be issued subject to the receipt of approval from the New York Stock Exchange. The transaction will be accretive to earnings beginning next year and it will be dilutive to EBITDA margin this year.
DCS Advisory LLC acted as financial advisor to Trendkite, Inc. Mark A. Fennell, Peter Stach, Jenn Betts, Daniel S. Siegel, Alexandra Mihalas, Ashley Y. Thompson, Brian T. Valcarce, Chris Chase, Christopher Butler, Craig Garvey, Dennis M. Myers, Emily Hogan, Ian Sherwin, Imani Lee, James Romain Dolphin III, John G. Caruso, Kevin M. Frank, Mary Liz Brady, Matthew D. Keiser, Melissa M. Soares, Michael G. Falk, Paul D. Tanaka, Polina Liberman, Russell S. Light, Sam S. Hong, Seth Traxler, Thomas James Dobleman, Vinita Singh of Kirkland & Ellis acted as legal advisors to Cision Ltd.
Cision Ltd. (NYSE:CISN) completed the acquisition of Trendkite, Inc. from Harmony Partners, Silverton Partners, Adams Street Partners, LLC, Battery Ventures Mercury Fund and Noro-Moseley Partners on January 23, 2019.
Cision Ltd is a provider of public relation (PR) software. The Company also provides media distribution, media intelligence and related professional services. Its products and services to help manage, execute and measure strategic PR and communications programs. Its Cision Communications Cloud is a cloud-based platform that integrates each of its point solutions into a single unified interface, arms brands with the insights they need to link their earned media to strategic business objectives, while aligning it with owned and paid channels. Its platform enables companies and brands to build consistent, meaningful and enduring relationships with influencers and buyers in order to amplify their marketplace influence. Its products and services include Media Database, Media Distribution, Media Monitoring and Media Analysis.
Cision Ltd. acquired Trendkite, Inc. from Harmony Partners, Silverton Partners, Adams Street Partners, LLC, Battery Ventures Mercury Fund and Noro-Moseley Partners for approximately $220 million.