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.
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.