CARY, NC: Issuer Direct has acquired press release-distribution service Newswire.
With this acquisition, the communications and compliance company will almost double its number of customers. Issuer Direct’s users will receive access to Newswire’s offerings in its Media Advantage Platform, including press release distribution, media databases, media monitoring and a virtual newsroom.
The acquisition is a part of Issuer Direct’s larger business strategy to grow and invest in its communications offerings. The combined company will be one of the largest press release-distribution platforms in North America, while providing a global footprint via AccessWire. Financial terms of the deal were not disclosed.
“We firmly believe our joint offerings, plus others we’re hard at work building, will illustrate to the markets we’re serious and passionate about serving, leading and growing this company,” said Brian Balbirnie, founder and CEO of Issuer Direct.
Issuer Direct has predicted that the acquisition will lead to a more than 50% increase in annual revenue, while the comms business specifically will grow by more than 80%. The two companies will continue to focus on growth, maintaining the quality of their products and customer success.
All Newswire staff will join Issuer Direct as part of the acquisition. The combined company boasts more than 6,500 users in 50 countries.