March seemed to be a month of acquisitions in our space. Cision acquired yet another platform, this time to support its Brandwatch business; Launchmetrics picked up a close competitor; and, a consortium of private equity firms bought Nielsen. There was also funding news with month, with Truescope, Propel and My Telescope all picking up funds.
Brandwatch acquires influencer marketing solution
Cision CEO departs
It was a busy month for Cision, and an acquisition via Brandwatch was not the only story. Cision’s CEO, Abel Clark, left the company after just 18 months in the role. Brandon Crawley, managing director of Cision’s private equity owner, Platinum Equity, has taken over CEO duties in the interim. Crawley also stepped into the role following Kevin Akeroyd’s departure from Cision in February 2020.
Launchmetrics picks up Italian competitor
Launchmetrics is acquiring DMR, the Italian-based media analytics firm. Both companies have focused on supporting the fashion industry, and the acquisition ends a long-standing competition. Michael Jais, CEO of Launchmetrics, called it “a very important milestone”. DMR’s president and founder Enzo di Sarli will stay on as a consultant, alongside former DMR CEO Marco Levi. Combined with DMR, Launchmetrics’ turnover will be over $USD 50 million, with the company boasting more than 400 employees.
Truescope raises $AUD 6.2 million
Australian-based media intelligence platform provider Truescope has raised $AUD 6.2 million. Since launching in 2020, the company has picked up around 250 clients in Singapore and New Zealand. While Truesdcope is led by John Croll, an Australian industry veteran, the company has no current plans to launch in the Australian market. Instead, Truescope will take its freshly raised funds to develop its offering for the US.
Propel raises $USD 4.5 million
Propel has announced a fresh funding round of $USD 4.5 million. The news follows hot on the heels of a funding round last July, and brings Propel’s total funds raised to $USD 6 million. Propel plans to launch tools for journalists, helping them find sources, and manage and measure their stories. Business Insider has published Propel’s pitch deck, if you fancy a read. (They also published Memo’s recent pitch deck this month.)
My Telescope picks up €2.5 million
My Telescope, a Sweden-based Swedish market intelligence and search startup, has raised a €2.5 million in seed funding. The company uses Share of Search analytics to measure and predict the long-term impact of market trends, brand strength, and campaign effectiveness. Its platform integrates data from the media, social listening, forums, and product reviews to gain deeper insights.
Nielsen sold for $USD 16 billion
Nielsen has agreed to go private with a deal worth $USD 16 billion. The companies purchasers was a consortium of private equity firms led by Elliott Management and Brookfield Asset Management. The deal offers $28 for each Nielsen share, a premium of 60% since early March when the deal talks were first reported.
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