Press release distribution and media monitoring service expected to significantly enhance Nasdaq’s corporate offerings and product suite.
Compiled By CommPro.biz Editorial Staff
Nasdaq, Inc. (NASDAQ: NDAQ) today announced it has entered into a definitive agreement to acquire Marketwired, a provider of news distribution services and analytics for communications professionals. Marketwired services over 8,500 clients, private corporations and PR firms. The acquisition is expected to further bolster Nasdaq’s position as a leading, global corporate services provider.
Nasdaq’s corporate services clients are expected to benefit by gaining access to Marketwired’s social media targeting tools and analytics, and by leveraging Marketwired’s strong presence in the Canadian market.
“This transaction is a testament to our commitment to growing this business and delivering the most innovative communications tools and intelligence to our Corporate Solutions clients across the investor relations and public relations solutions suite,” said Adena Friedman, President and Chief Operating Officer, Nasdaq. “As our clients’ needs continue to expand, we will be well-positioned to offer new tools, content, and services to meet their evolving IR and PR challenges and opportunities.”
“There is a natural fit between the two organizations in terms of our long-term strategy and shared values based around innovation and customer centricity,” said Adnan Ahmed, President and CEO, Marketwired. “We are excited about the benefits this combination will provide to Marketwired clients through a broader global distribution network, a comprehensive end-to-end workflow solution, and improved customer service.”
Subject to customary conditions, the deal will be funded through a mix of debt and cash on hand and is expected to close in the first quarter of 2016. The acquisition is expected to be accretive to Nasdaq’s non-GAAP earnings within 12 months of closing.