OMERS Private Equity ("OPE"), the private equity arm of OMERS, has agreed to sell Marketwired L.P. (together with its affiliates, "Marketwired" or the "Company") to New York-based Nasdaq, Inc. ("Nasdaq").
Marketwired is an innovative social intelligence company offering best-in-class global news distribution and reporting. It is a full-service provider to Investor Relations ("IR") and Public Relations ("PR") professionals who utilize its services for news distribution, media management and analytics solutions. Since acquiring Marketwired, OPE has worked with the Company on several initiatives, including enhancing the management team, building out the new Resonate platform, developing world class analytics, and positioning the Company for future growth.
Michael Graham, Senior Managing Director and Head of North America, for OPE said, "We are extremely proud of our affiliation with Marketwired over the years. Marketwired has been part of OPE since 2006 and has been a strong contributor to OMERS returns. The sale to Nasdaq is a logical step in the company's evolution. We wish Adnan and his team continued success."
Adnan Ahmed, CEO of Marketwired, commented, "This transaction marks an exciting new chapter for the Company and helps accelerate our strategy to become the communications platform of choice for PR, IR, and Marketing professionals. We appreciate the support and partnership OMERS Private Equity offered throughout the life of their investment. We are excited about the benefits this combination will bring for our customers."
Marketwired and Sysomos, a leader in social media analytics, separated in 2015. Sysomos will remain under OPE's ownership.
The transaction is expected to close in the first quarter of 2016, subject to customary conditions.
BMO Capital Markets served as financial advisor, and Morrison & Foerster and Stikeman Elliott acted as legal counsel.
