Cision snaps up analytics firm TrendKite in $225mn deal
Cision, a public relations software company, has agreed to buy analytics startup TrendKite Inc.
The $225mn deal comes as the latest in a string of acquisitions by Cision in software automation, as the firm aims to improve social media campaigns.
Headquartered in Austin, Texas, TrendKite uses artificial intelligence and analytics to help brands understand the effect of their media efforts.
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"Recent research conducted by Cision with PR Week found that 77 percent of CMOs and CCOs believe they can improve comms measurement and business objective attribution relative to the status quo," said Kevin Akeroyd, Cision CEO.
"Combining Cision and TrendKite will address this important objective for industry professionals worldwide."
In a statement, Cision said that it will continue to be offered as a stand-alone product but that it will eventually be rolled into a wider suite of cloud services.
"TrendKite and Cision share the same mission of helping clients improve the results of earned media campaigns," said Erik Huddleston, TrendKite CEO.
"Combining our offerings and capabilities with Cision's comprehensive earned media platform will allow us to powerfully impact the marketing communications industry and provide best-in-class PR and communications solutions."
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