Clarivate (CLVT) Reports Acquisition of ProQuest; Reaffirms FY21 EPS/Revenues Outlook
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Clarivate to Acquire ProQuest, Creating a Leading Global Provider of Mission Critical Information and Data-Driven Solutions for Science and Research
May 17, 2021 6:00 AM EDTLONDON, May 17, 2021 /PRNewswire/ -- Clarivate plc (NYSE: CLVT), a global leader in providing trusted information and insights to accelerate the pace of innovation, today 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.
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