Cision, a global media intelligence company, has a agreed to acquire PR Newswire, a provider of multimedia communications, from UBM, in a transaction that will create a global leader of communications software and services. The transaction, which requires approval by the shareholders of UBM as well as regulatory approvals, is expected to close late in the first quarter of 2016.

Deutsche Bank Securities, Barclays and RBC Capital Markets are providing debt financing to Cision.

PRN is a global leader in public relations and investor relations communications and related services, connecting over 30,000 customers to their target audiences through the largest distribution network of its kind in the world. Customers spanning Fortune 2000 multinationals, small businesses, public relations agencies and government entities rely on PRN to target, reach and engage the most relevant media outlets and audiences with impactful and timely content.

“Bringing Cision and PR Newswire together will enable communicators to turn data into actionable insights — the necessary link between communications and business outcomes,” explained Peter Granat, Cision CEO. “We are serious about building a comprehensive platform to help our clients manage the entire lifecycle of communications – from influencer discovery and content distribution to engagement and campaign analysis.”