Sydney, Australia – Global communications intelligence company Cision has completed the acquisition of real-time media monitoring company Streem.
The acquisition was first announced last December 2021. Through this deal, 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. The customers will also continue to access the company’s existing media monitoring and insights platform, supported by its local product and engineering teams.
Cision said that the Streem brand, platform, and local service will continue in the Australia and New Zealand market. It will also continue to operate as an independent brand, with operations and people, including Streem’s CEO Elgar Welch and CTO Antoine Sabourin to remain in place.
Stephen Boyes, Cision’s CRO, noted that 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,” said Boyes.
Meanwhile, Welch said, “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.”
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 in 2022.
In a joint statement, Platinum Equity’s partner Jacob Kotzubei, and managing director Matthew Louie, said, “We are delivering on our promise to invest in Cision’s growth, expand its product offering and extend its geographic reach. We will continue working with the team to pursue more opportunities to drive growth organically and through acquisitions.”