Clarivate plc, a global leader in providing trusted information and insights to accelerate the pace of innovation, has announced a definitive agreement to acquire ProQuest, a leading global software, data and analytics provider to academic, research and national institutions, from Cambridge Information Group, a family-owned investment firm, and other partners including Atairos, for $5.3 billion, including refinancing of ProQuest debt. The consideration for the acquisition is approximately $4.0 billion in cash and $1.3 billion of equity. The transaction, which is subject to customary closing conditions, including regulatory approvals, is expected to close during the third quarter of 2021.
With a mission to accelerate and improve education, research and innovation, ProQuest delivers content and technology solutions to over 25,000 academic, corporate and research organizations in more than 150 countries. The acquisition will establish Clarivate as a premier provider of end-to-end research intelligence solutions and significantly expand its content and data offerings as the addition of ProQuest will materially complement the Clarivate Research Intelligence Cloud™.
Bringing together these two customer-focused businesses with a purpose to accelerate innovation at their core will create a world-leading software and information provider for research-focused organizations to fuel scientific discovery and innovation into the future.
Upon completion of the transaction, two members of the ProQuest Board will join the Clarivate Board, including Andy Snyder, who will have the position of Vice Chairman of the Clarivate Board, and Michael Angelakis, Chairman and CEO of Atairos.
Clarivate will host a conference call and webcast to discuss the strategic and operating aspects of the ProQuest combination on May 17th at 8:00 AM Eastern Time. The conference call will be simultaneously webcast on the Investor Relations section of the company’s website.
Tags: Data and analytics, content solutions, technology solutions, research intelligence solutions.
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