Report: Cision explores sale

The vendor is holding talks with private equity firms, according to Reuters.

Cision CEO Kevin Akeroyd
Cision CEO Kevin Akeroyd

CHICAGO: Cision is in discussions with private equity firms about a possible sale, according to Reuters.

The marketing platforms vendor has hired an investment bank for support as it reaches out to private equity firms to explore a deal, according to the wire service.

Cision has bought a dozen companies, including PR Newswire, Gorkana, and TrendKite since the combination of Cision and Vocus in 2014, consolidating much of the marketing products and tools category.  

Private equity firm GTCR, which engineered the merger of Vocus and Cision, owns a 38% stake in the company. Cision has been a public company for less than two years, after it merged with blank-check company Capitol Acquisition Group III.

Cision reported 10.3% year-over-year growth in revenue in Q4 2018 to $186.4 million. Full-year revenue was up 15.6% to $730.4 million. The company’s net loss decreased by 66.7% in the quarter to $11.5 million.

A Cision representative was not immediately available for comment.

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