Cision strengthens Nordic operations through divestment of Danish subsidiary

Cision has signed an agreement to sell all its shares of the Danish subsidiary, Cision Danmark A/S, to Infomedia A/S. Infomedia A/S, the leading player on the Danish market for Monitor and Analysis services, is owned by the media groups JP/Politikens Hus and Berlingske Media. The transaction will be completed on February 6, 2009.

Cision Danmark A/S had 68 employees as of December 31, 2008 and an annual revenue of approximately DKK 50 million in the 2008 fiscal year. The divestment will not include Cision’s Plan and Connect business in Denmark, with annual revenue of approximately DKK 2 million. Cision and Infomedia A/S have entered into a co-operation agreement to serve Cision’s customers outside of Denmark with Danish Monitor and Analysis services and whereby Infomedia will gain access to Cision’s international Monitor content and Analysis capabilities.
Cision’s realized gain from the divestment is estimated to be approximately SEK 3 million. Cision further estimates that the divestment will have a positive impact on the group’s operating profit in 2009.

“The divestment of Cision Danmark A/S is an important step toward increasing the pace of the Nordic restructuring. The divestment will lead to improved profitability for Cision’s Nordic region and with the Infomedia partnership, we will be even better positioned to serve our Nordic and international customers with the best possible Danish Monitor and Analysis services,” says Hans Gieskes, CEO of the Cision Group.

“Cision Danmark A/S is a well-known and respected company with highly qualified employees and a strong client base. This acquisition will further strengthen Infomedia’s service offering, particularly regarding analysis and provision of international content, thereby creating increased value for the clients of both Infomedia and Cision,” says Anders Lassen, CEO of Infomedia A/S.

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