SAN FRANCISCO: Business Wire has partnered with investor relations cloud platform Q4.
The exclusive partnership is combining Business Wire’s distribution and newswire services with Q4’s communications and intelligence platforms, according to a statement from the companies.
"Business Wire and Q4 have known each other for a long time," said Richard DeLeo, COO at Business Wire. "We’re both preferred providers to the New York Stock Exchange IPO program. The opportunity to give [Q4] access to distribution and Business Wire clients access to their best-in-class IR services was attractive to us."
DeLeo added that this is only "phase one" of their partnership.
"We’re going to put our heads together about how we can integrate further and create more products," he added.
Business Wire has not used the acquisition-heavy strategy of its competitors, such as Meltwater and Cision, who have been trying to drive innovation through consolidation.
"We are always looking at ways that we can enhance the news-distribution process as well as deliver ROI and metrics to our client base," DeLeo said.
Q4 services DeLeo highlighted include web-hosting capabilities, as well as analytics and intelligence in IR. Pooling Q4 and Business Wire’s resources will "help simplify complex workflows, drive valuation, reduce volatility and deepen stakeholder engagement," according to a statement from the companies.
The deal "makes sense as a partnership," according to Burton-Taylor International Consulting associate Christopher Porter.
"We were also struck by the mention of webcasting as an area of cooperation. Webcasting is an area of particular focus for West [Corporation], who since 2018 are the owners of GlobeNewswire, which Burton-Taylor considers to be the next-largest press-release-distribution business in the world after Business Wire," Porter added.
Business Wire was identified as the fourth-largest player in the comms tech industry in a report by Burton-Taylor.
In February, Business Wire expanded its Paris office adding staff and pursuing growth in France and southern Europe.
Business Wire once partnered with TrendKite, the digital PR platform that was acquired by Cision this year. Trendkite provided its analytics to Business Wire, packaged in its NewsTrak reports. That partnership has ended.
Berkshire Hathaway acquired Business Wire in 2006 for an undisclosed amount.