ndm article

http://www.theguardian.com/media/2014/oct/22/media-jobs-gorkana-sold-cision-gtcr

Media jobs website Gorkana sold to Cision in £200m deal

This article is about an employment PR company which has been sold to a rival company called Cision. This is a part of an expansion strategy.

• Cision, which is owned by US private equity firm GTCR, recently closed a $447m (£278m) deal to buy Vocus, creating a giant in the software for the PR sector.

• Gorkana was bought by private equity group Exponent, which also owns BBC magazines publisher Immediate Media, in 2010 for about £25m.

• The company made adjusted earnings of about £15m-£16m in its most recent financial year and had been looking to sell for about £200m.

• ''Cision shares our commitment to providing the best possible service to PR professionals, journalists and members of the media,” said Thompson. “Joining forces allows us to better serve our existing customers while also enhancing our ability to rapidly expand into new international markets.”

As two rival companies have joined this means they can expand together and maximise their profit which is a really good thing. However healthy competition is not always a bad thing as companies can learn from each other and strive to progress further.