Observer strengthens its customer offering through US acquisition

Observer strengthens its customer offering through US acquisition Observer is strengthening its customer offering by acquiring the US company MediaMap for USD 23 million, and in the process further consolidating its position as the market leader. Observer expects its profit per share and cash flow to be positively affected from the date of acquisition. The acquisition brings together two of the leading US providers of communication management services for the PR industry and corporate communications professionals. MediaMap, with an annual turnover of approximately USD 13 million, offers databases and IT applications for managing contact information on media and journalists. Its services include detailed information on media that covers companies in Technology, Business & Finance, Healthcare and Consumer Goods. MediaMap's principal owner is the private equity firm Warburg Pincus. Observer and MediaMap's customers now will both have access to Observer's solutions, with a broad-based media information, and MediaMap's solution, with in-depth, industry-specific information. Since acquiring Bacon's of the US in late 2001, Observer has successfully offered media monitoring services to database customers as well. MediaMap's strong customer base will now also have access to professional media monitoring services. Through the acquisition, Observer, the market leader in the US, Canada, UK and Nordic region, consolidates its position as the world's leading provider of media and journalist contact information, a segment currently experiencing good growth. Observer AB is quoted on the Attract 40 section of Stockholmsbörsen's O-list and has approximately 26,000 shareholders. Observer is active in Business and Communication Intelligence and offers market monitoring and communication evaluation services. Customers, who are primarily in IR and PR, are also offered tools and channels for distribution and publication of business information. Observer has around 2,400 employees and a turnover of SEK 1.7 billion in 2002. The company operates in the US, UK, Sweden, Canada, Germany, Norway, Finland, Denmark, Portugal, Ireland, Estonia, Latvia and Lithuania. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/12/03/20031203BIT20040/wkr0005.pdf Full length version http://www.waymaker.net/bitonline/2003/12/03/20031203BIT20040/wkr0007.doc Full length version

About Us

Cision is the leading provider of software, services, and tools to the public relations and marketing industry. Marketing and PR professionals use our products to help manage all aspects of their brands – from identifying key media and influencers to connecting with audiences; monitoring traditional and social media; and analyzing outcomes. Journalists, bloggers, and other influencers use Cision’s tools to research story ideas, track trends, and maintain their public profiles. Cision is present in Europe, North America and Asia.

Subscribe