Cision completes buy-out of Streem, takes full ownership
In Australia and New Zealand, Streem offers real-time media monitoring for print, online media, TV, radio, and social.
Global PR and earned media software and services giant Cision (NYSE: CISN) recently wrapped up its acquisition of Streem for an undisclosed amount. The deal sees Cision take 100% ownership of the Sydney-based real-time media monitoring company. Initial talk and headlines related to the buy-out arose back in December 2021.
With the deal, Cision says it is now able to complete a full-suite offer to customers in Australia and New Zealand (ANZ), combining Streem’s services with all previously acquired brands such as PR Newswire, Falcon.io, and Brandwatch. The firm believes this will benefit its global customers by offering valuable insights about the ANZ market via Streem.
Meanwhile, Streem will benefit from Cision's global network and reach. Cision will likely enable platform integrations between its subsidiaries. Since the first announcement, Streem has already earned more notable customers, including names like HSBC, Amazon, and government agencies.
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Cision's chief revenue officer Stephen Boyes said, "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."
"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," said Streem CEO Elgar Welch.
Management remains at the helm
Even with Cision taking full ownership of Streem, the company will still operate as an independent brand under the same management squad that includes Welch as CEO and Antoine Sabourin as CTO.
"With more than 100 local staff servicing over 400 leading clients, Streem has grown faster than we ever could have imagined thanks to great tech, strong support from customers and an incredible local team," said Welch. "Backed by Cision, we'll continue to build upon that growth, delivering new tools and products to help communications teams work smarter."
In ANZ, Streem has made a name for itself by offering real-time media monitoring (such as print and online media, TV, radio, and social), insights, and reporting through its platform.
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