PR Newswire Sold to Cision for $841 MillionBy
LONDON — UBM, the British business-events organizer, said on Tuesday that it had agreed to sell the news-release distribution service PR Newswire to Cision, the owner of Gorkana Group, for $841 million.
The deal came after UBM said in September that it was in “highly preliminary discussions” with several parties to sell PR Newswire.
Under the terms of the deal, UBM would receive $810 million in cash and $31 million of preferred equity.
Cision, based in Chicago, is a provider of public-relations software and analytics, and its brands include the Gorkana Group, PR Web and iContact. It is owned by GTCR Private Equity…
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