West Corporation (“West” or the “Company”), a global leader in technology-enabled services, announced it has completed the acquisition of the public relations and digital media businesses (“Public Relations Solutions and Digital Media Services”) from Nasdaq (Nasdaq:NDAQ) for approximately $335 million.
“This landmark acquisition further expands West’s position as the leading technology enablement company connecting people and businesses around the world,” said John Shlonsky, CEO of West Corporation. “When I accepted the position to lead West, I did so with the intention of growing our rich product suite and customer base through continued innovation, high-performance service delivery and strategic acquisitions. The addition of Public Relations Solutions and Digital Media Services enhances the diverse portfolio of best-in-class solutions available to our clients and is a significant step toward that goal.”
This acquisition broadens West’s portfolio of communication tools, media intelligence and multimedia services for organizations across all industries. These innovative solutions help enterprises more effectively communicate with their investors, customers and employees through targeted, timely delivery of relevant messaging.
The acquired products and services include:
- GlobeNewswire: a global press release distribution platform and media contacts database with analytics
- Web Hosting: a web hosting service purpose-built for investor relations and external communications functions
- Webcasts: a multimedia service that publishes webcasts, webinars, video presentations and other content
- Media Intelligence: a media monitoring and analyst-curated daily news reporting service
- Influencers Database: a service to identify and connect with relevant traditional and social media profiles
West and Nasdaq have agreed to an exclusive multi-year partnership, offering eligible Nasdaq-listed clients seamless access to West’s leading press release distribution, web hosting, and webcasting solutions.
“This partnership adds tremendous value and capability for thousands of clients as West continues to deliver and invest in global omni-channel digital media products and services,” said Rob Wechsler, President of West Corporation. “We are extremely confident in our ability to grow and enhance this business.”
Advisors and Financing Providers:
Credit Suisse and LionTree acted as financial advisors to West. Wachtell, Lipton, Rosen & Katz is acting as corporate counsel to West and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as financing counsel to West. Transaction financing was provided by Credit Suisse, RBC Capital Markets, Barclays, Bank of America Merrill Lynch, Citigroup, Deutsche Bank and Goldman Sachs.