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U.S.-based PR software and services firm Meltwater announced an 895 MSEK cash bid for Swedish peer Cision

Written by on April 8

About a week ago, we reportated that the U.S.-based PR software and services firm Meltwater acquired Swedish OCULUSAI. Meltwater just announced an 895 MSEK ($138 million) cash bid for Swedish peer Cision on Thursday, topping an offer by private equity-controlled Blue Canyon Holdings.

“A combination of Meltwater and Cision would create a global leader in the PR services and media monitoring industry,” Meltwater said in a statement, adding a merger and the synergies it creates would enable significant investments in product development and sales organisation.

Meltwater said the bid was conditional on it becoming owner of at least 80 percent of Cision shares.

Meltwater, which already owns 15.3 percent of Cision, said it had secured committed financing for the bid from Swedish private equity firm Altor.

Meltwater said the acceptance period for its bid was expected to run from April 22 to May 22.

Source: Yahoo Finance

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