Cision, a global media intelligence company, has announced an agreement to acquire PR Newswire, a premier provider of multimedia communications, from UBM plc, in a transaction that will create a global leader of communications software and services. The transaction, which requires approval by the shareholders of UBM plc as well as regulatory approvals, is expected to close late in the first quarter of 2016. Deutsche Bank Securities Inc., Barclays and RBC Capital Markets are providing debt financing to Cision.

PRN is a global leader in public relations and investor relations communications and related services, connecting over 30,000 customers to their target audiences through the largest distribution network of its kind in the world. Customers spanning Fortune 2000 multinationals, small businesses, public relations agencies and government entities rely on PRN to target, reach and engage the most relevant media outlets and audiences with impactful and timely content.

"Bringing Cision and PR Newswire together will enable communicators to turn data into actionable insights -- the necessary link between communications and business outcomes," explained Peter Granat, Cision CEO. "We are serious about building a comprehensive platform to help our clients manage the entire lifecycle of communications – from influencer discovery and content distribution to engagement and campaign analysis."

The combination of Cision and PRN resources would result in a seamless and integrated communications tool for intelligence gathering, distribution, monitoring, and analytics platforms.  Enhanced scale from the combination of the two companies would enable significant investments in R&D to support continued technology innovation.

Cision is a leading global media intelligence company, serving the complete workflow of today's PR and communication professionals. Offering the industry's most comprehensive PR and social media software, rich analytics and a Global Insights team, Cision enables communicators to improve their marketing and strengthen data-driven decision making.

Having pioneered the commercial news distribution industry in 1954, PR Newswire today provides end-to-end solutions to produce, optimize and target content – from rich media to online video to multimedia – and then distribute and measure results across traditional, digital, mobile and social channels.