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Marketing and PR software firm Vocus, a public company, agreed to be acquired for $446.5 million today — that’s 48% more than it was worth at market close last Friday.
Vocus’ board of directors approved the purchase price of $446.5 million in a merger agreement with Chicago-based private equity firm GTCR. That price represents a premium of 48% on Vocus’ closing share price on April 4 (it was $12.18). The deal has yet to close and is pending shareholder approval.
In addition, Maryland-based Vocus shares that GTCR will also buy Vocus’ outstanding shares of convertible preferred stock for $77.3 million.
Vocus claims to have over 16,000 annual subscribers to its marketing automation tools. The company’s subscriptions range between $300 to $2,500 per month.
Vocus, a Cision company, is a leading provider of public relations software that enables professionals to plan, execute and measure influencer-oriented campaigns in one integrated platform. Communication professionals use Cision to acc... read more »
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