Public relations company Cision Inc., which is a portfolio company of Chicago private equity firm GTCR, has purchased Gorkana Group Ltd. While terms of the deal remain undisclosed, Cision, which is also based in Chicago, reportedly spent $240 million on the deal.
London-based Gorkana is a media intelligence and data insights service provider. The target, backed by Exponent Private Equity since 2010, offers various media monitoring and analytics services. Gorkana chief executive Jeremy Thompson is slated to be Cision managing director for Europe, the Middle East and Africa once the deal closes.
GTCR, winner of the Mergers & Acquisitions M&A Mid-Market Private Equity Firm of the Year award for 2013, announced plans in June to combine Cision with another portfolio company, Beltsville, Maryland-based Vocus. As of October, the merged entity began operating under the Cision banner and is led by CEO Peter Granat.
Latham & Watkins provided legal advice to GTCR.