Cision Ltd. (NYSE: CISN), a leading global provider of software and services to public relations and marketing communications professionals, has announced that it has entered into a definitive agreement to be acquired by an affiliate of Platinum Equity in an all cash transaction valued at approximately US$2.74 billion. Under the terms of the agreement, which has been unanimously approved by the members of Cision Ltd.'s board of directors, an affiliate of Platinum Equity will acquire all of the outstanding ordinary shares of Cision Ltd. for US$10.00 per share in cash. The purchase price represents a 34% premium over Cision Ltd.'s 60-day volume-weighted average price ended on October 21, 2019. The proposed transaction is expected to close in the first quarter of 2020 and is subject to approval by Cision Ltd.'s shareholders, along with the satisfaction of customary closing conditions and antitrust regulatory approvals, as necessary.
Latham & Watkins LLP represents Cision in the transaction on antitrust issues with a team led by San Diego/San Francisco partner Hanno Kaiser and San Francisco associate Kelly Fayne with Brussels counsel Rita Motta.