Global communications intelligence company Cision announced today that it has completed the acquisition of realtime media monitoring company Streem.
Since announcing the deal in December 2021, Streem has continued its high-growth trajectory, winning major new customers, including Amazon, HSBC, Crown Resorts, and several government departments.
Cision’s Chief Revenue Officer Stephen Boyes noted, “Streem has established itself as the customer-preferred media intelligence platform in the ANZ market. We are excited that they are now part of the Cision family and that our ANZ customers can benefit from a full suite of monitoring, distribution, insights, and social media solutions.”
Streem customers will benefit from the global reach of Cision, while continuing to receive the same local support and expertise they have relied on since the company’s launch in 2017. Streem’s customers will also continue to access the company’s existing media monitoring and insights platform, supported by its local product and engineering teams.
“The closing of this deal gives us the opportunity to create the ANZ region’s leading media intelligence offering. Streem is best positioned to deliver on every customer’s need through a single platform and local team,” Elgar Welch, CEO of Streem said.
The completion of the acquisition follows approval by Australia’s Foreign Investment Review Board (FIRB) and the United States’ Department of Justice (DoJ), and results in a sale of 100% of Streem shares to Cision. Streem will continue to operate as an independent brand, with operations and people, including key management and founders Elgar Welch (CEO) and Antoine Sabourin (CTO), to remain in place.
Cision is a portfolio company of Platinum Equity, which acquired the business in 2020. The Streem transaction marks the second add-on acquisition Cision has completed this year.
“We are delivering on our promise to invest in Cision’s growth, expand its product offering and extend its geographic reach,” said Platinum Equity Partner Jacob Kotzubei and Platinum Equity Managing Director Matthew Louie in a joint statement. “We will continue working with the team to pursue more opportunities to drive growth organically and through acquisitions.”
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