May 12, 2016, 09:50 ET
NEW YORK, May 12, 2016 /PRNewswire/ -- PR Newswire today announced that it has entered into an asset purchase agreement under which Innodata (NASDAQ: INOD) will acquire PR Newswire's US and UK Agility business. Pursuant to the asset purchase agreement, and subject to its terms and conditions, the transaction will include the assets and rights relating to the Agility business, including the Agility and Agility+ applications and platform, the global media database and customer contracts in the United States and United Kingdom. Financial terms of the transaction were not disclosed.
"Agility is a great media intelligence business, driven by its innovative, user-friendly platform," said Robert Gray, CEO of PR Newswire. "Agility is an excellent fit for Innodata, and both the platform and the talented Agility team will have the opportunity to grow and succeed. As part of Innodata, we are confident that Agility will continue to help customers better target and monitor the media, distribute news and measure results, and we expect this to be a seamless transition for Agility customers, employees and partners."
The divestiture of Agility is conditioned on PR Newswire successfully completing antitrust review of its sale to Cision from UBM plc., which was previously announced on December 15, 2015. PR Newswire expects the Agility transaction to be completed immediately following the sale of PR Newswire to Cision.
About PR Newswire:
PR Newswire (www.prnewswire.com) is the premier global provider of multimedia platforms and distribution network that enable marketers, corporate communicators, sustainability officers, public affairs and investor relations officers to leverage content to engage with their key audiences. Having pioneered the commercial news distribution industry over 60 years ago, PR Newswire today provides end-to-end solutions to produce, optimize and distribute multimedia content -- across traditional, digital, mobile and social channels. Combining the world's largest multi-channel, multi-cultural content distribution network with comprehensive workflow tools and platforms, PR Newswire enables organizations of all sizes to share their stories with the world. PR Newswire serves over 30,000 clients in over 170 countries from offices in the Americas, Europe, Middle East, Africa and Asia-Pacific regions.
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