LIVINGSTON, NJ: BurrellesLuce has bought the US print monitoring operations of Cision for $2 million.
The majority of the cost, $1.5 million, will be paid in quarterly installments through 2013. The deal is expected to be complete by the fourth quarter of this year.
All Cision print monitoring clients will transition to BurrellesLuce with their current contracts. Customers who use Cision for services other than print monitoring will work with both companies.
Cision has seen a drop in demand for and revenue from print monitoring, and the company conducted the sale to focus on software and other investments necessary for online monitoring, research, and analysis.
“We've been working on a digital transformation of all of Cision over the last three years," said Peter Granat, CEO of Cision North America. "This is actually our eighth divestment of print operations globally."
Cision will maintain its digital media monitoring services. It plans to expand some platforms, including influencer identification, media measurement, and analysis.
“For us, it's more about focusing on the social analytics and digital media piece of it," Granat said.
Cision also settled a copyright dispute with Dow Jones & Co. earlier this month.
BurrellesLuce, which offers print, social media, broadcast, and online monitoring, saw the acquisition as a way to expand the value of its US services for the PR and marketing industries, said Johna Burke, SVP of marketing and communications at BurrellesLuce.
“We are making sure organizations have the option to take a full panoramic view of what their market needs are, as opposed to a pinhole view,” she said. “Even though the environment is changing for print media, there's definitely still a place for it, especially when it comes to PR and marketing for measurement purposes and for reputation management."