Meltwater through Meltwater News Canada Inc. has agreed to acquire Infomart from Postmedia Network Inc., a wholly owned subsidiary of Postmedia Network Canada Corp. for gross proceeds of $38.25 million, subject to adjustments. Included in the transaction are Infomart’s media monitoring business, direct feed business and professional services operations, including clients of such services.
“We are pleased to announce a transaction that both supports Postmedia’s business strategy and provides an exceptional offering for Infomart clients,” said Andrew MacLeod, Executive Vice President and COO, Postmedia. “The transaction allows us to pay down debt and focus on core areas of the business.”
“We look forward to welcoming Infomart employees and clients into the Meltwater family,” said Kaveh Rostampor, Executive Director, Americas, Meltwater. “Infomart’s existing client base will have the opportunity to enjoy the Meltwater product offering while continuing with the services they are used to.”
The transaction is expected to close on or about August 15, 2017.
Infomart, a division of Postmedia Network Inc., provides the most complete integrated solutions, including media monitoring and analytics, Research and Insights Reports, Executive Summaries and corporate data to major players in virtually every industry.
In February 2017, Meltwater raised US $60 million in debt financing with Silicon Valley Bank and Vector Capital in order to ramp up strategic acquisitions.
photo credit: Infomart