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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