Access Intelligence has made an offer to acquire media monitoring firm Isentia Group.
Under the offer, which is subject to shareholder approval, Isentia shareholders will receive $0.175 per share in cash, this implies an enterprise value of $67 million.
Access Intelligence is a company delivering SaaS products targeting the PR, marketing and communications industries with more than 3,500 organisations relying on it every day.
"Isentia is a leading media intelligence company in Australia and across the Asia Pacific,” says Access Intelligence chief executive Joanna Arnold.
“Access Intelligence and Isentia are aligned culturally and strategically, and customers will benefit from a product offering that gives them more choice with a broader geographical reach. We look forward to combining businesses and serving the Asia-Pacific market."
Isentia CEO Ed Harrison says bringing the companies together will give Isentia’s customers access to a broader suite of products.
“Isentia will continue to invest in its existing portfolio of products including the upcoming launch of the new Isentia platform and completion of the move to real-time broadcast monitoring,” Harrison says.
“For the Isentia team this represents the opportunity to be part of a wider global organisation.”
Arnold will relocate to Australia for a minimum of twelve months for the takeover. In the initial phase of the integration each business will operate independently with a team of Access Intelligence’s senior executives working directly with Isentia’s management team to combine the businesses.
Shareholders will have the opportunity to vote on the acquisition in August, with the deal expected to close in early September.
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