CHICAGO: Cision has agreed to acquire Prime Research, a media measurement and analysis platform, in the latest deal of its buying spree.
The deal is expected to close next month, pending closing conditions such as regulatory approval.
The acquisition will help Cision clients identify influencers, develop campaigns, and attribute business value to marketing efforts, the company said in a statement. Prime provides monitoring and analysis services across media including print, TV, radio, and digital, as well as social media channels such as Facebook, Twitter, Instagram, and YouTube. It works with clients in verticals including automotive, retail, pharma, financial services, and technology, the company said in a statement.
The Prime Research deal marks Cision’s 10th acquisition since its 2014 feal with GTCR.
Last week, Cision said it acquired Canada-based Cedrom-SNi, which has more than 100 employees in Montreal, Quebec City, Ottawa, Toronto, and Paris. Its respective Canadian and European subsidiaries, Eureka.cc and Europresse.com, offer media monitoring and analytics services.
Cision reported $159.7 million in third-quarter revenue, a 5.9% increase over the prior year. Operating income in the period was $13.9 million, an improvement on a loss of $7.1 million in the prior year. Cision also reported a net loss of $46.4 million in the period. Cision CEO Kevin Akeroyd called it a "slight underperformance."
