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Cision Posts 4.7% Q3 Growth
From:
O'Dwyer's Public Relations News O'Dwyer's Public Relations News
For Immediate Release:
Dateline: New York , NY
Friday, November 08, 2019

 

Cision registered a 4.7 percent spurt in Q3 revenues to $185.7M and a $2.4M profit compared to a year ago $6.2M loss as the PR/marketing software company prepares to revert to private ownership.

Platinum Equity on Oct. 22 announced a $2.7B cash acquisition of Cision, which is expected to close during the first-quarter of next year, subject to shareholder approval.

The go-shop provision of the agreement expires Nov. 12.

Cision CEO Kevin Akeroyd reported a 3.3 percent uptick to $562M in nine-month revenues and a $6.2M profit vs. a $13.2M 2018 loss.

Cision is going private with $95M in cash/cash equivalents and $1.2B long-term debt.

 
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