Cision, a public relations software provider controlled by private equity firm GTCR LLC, has won US antitrust approval to buy press release distributor PR Newswire from UBM on condition that it sell a media contact database, the Justice Department said on Friday.
UBM had said in December that it would sell PR Newswire to Cision for $841 million to focus on its events business.
PR Newswire has agreed to sell its Agility database in a settlement that would preserve competition, the Justice Department said in a statement. Cision is the largest of three major media database providers and PR Newswire is No. 3, it noted.
Full Content: Reuters
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