October saw the sale of Cision and it’s acquisition of Unmetric. Meanwhile, Access Intelligence made an acquisition, Sprout Social is set for an IPO and there’s funding news for Signal AI and Hypr.
Cision sale to close at $US2.74 billion
Cision is set to go private (again). The company has agreed to be acquired by private-equity firm Platinum Equity in a cash deal valued at about $2.74 billion. Shareholders will receive $10 a share in cash. The deal needs to be approved by shareholders but GTCR, which owns about 34% of outstanding shares (and took the company private last time around), has agreed to vote in favour of the deal. News of Cision’s search for a buyer first surfaced in March, and the transaction is expected to close in the first quarter of 2020.
Falcon.io acquires Unmetric
Apparently the sale of Cision has not affected its appetite for acquisitions. Falcion.io, a company acquired by Cision in January, has itself acquired Unmetric. The value of the deal has not yet been defined. Unmetric’s social media marketing capabilities will be incorporated into the Falcon.io customer offering, and Unmetric’s team is expected to be integrated into the Falcon organisation.
Sprout Social is set for an IPO
Sticking with the social theme for a moment longer, Sprout Social has filed for an IPO. When a private company goes public we get to see their financials, a bonus for the curious like me. Sprout Social has produced a healthy growth in revenue in the first nine months of 2019, posting $US74.6 million in revenue up from $US56.5 million over the same period in 2018. However, the company losses are also rising, from a net loss of $17 million in the first nine months of 2018 to a $20.9 million net loss in the same time period of 2019. The company has reported an impressive 23,000 customers in 100 countries.
Access Intelligence buys Pulsar for £4.5 million
The UK’s Access Intelligence has purchased social media listening platform Pulsar for £4.5 million from Cello Health. Access Intelligence also owns Vuelio and ResponseSource. Cello said it would continue to use Pulsar in partnership with Access Intelligence “where there is mutual client opportunity”. Outside of the Cello partnership, Access Intelligence can not solicit Pulsar business from, or provide the Pulsar service to, certain Cello healthcare customers for 24 months post completion. Access Intelligence’s combined customer base will now include more than 3,500 global brands, and headcount will now number over 200 across London and the US.
Signal AI raises $US25 million
UK-based media monitor Signal AI has raised $US25 million in Series C funding. The funding was led by Redline Capital. Signal AI has now raised around $US43 million, and has not publicly disclosed it’s valuation. However, CEO and founder David Benigson has reported “growing revenues at well over 100% each year for the last two”. If you’re wondering what a pitch deck needs to look like to raise $US25 million, you can find Signal AI’s here.
HYPR Brands picks up $US8 million
Meltwater unveils product updates
Meltwater has revealed some major product changes. The new solution allows users to execute an entire campaign on a single platform, and integrates features from some of the company’s recent acquisitions. The platform now includes insight elements, like PR attribution, and social analytics. It also gives users a centralised workspace for both its desktop product and mobile app. Meltwater has also launched Explore, a search and analytics tool that includes content from Reddit, Twitter and Dow Jones.
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