Cision divests subsidiary in Lithuania
Cision has today sold all the shares of its subsidiary in Lithuania to Baltic News Service (BNS), a leading Baltic news agency and media information company, owned by the Alma Media group. Cision Lithuania had revenues of about SEK 9 million in 2008 and currently employs 43 people. Cision Lithuania’s business has been focused on the Monitor and Analyze service areas. Cision and BNS have also entered into a supply agreement regarding Baltic monitor content and analysis services. The purchase price was about SEK 6 million on a cash and debt free basis, paid on October 1, 2009. The divestment