Private equity firm GTCR completed its $447 million purchase of Vocus, Inc., a cloud-based public relations and marketing software provider. GTCR also announced plans to merge Vocus with Cision, a Swedish-based Vocus rival that the private equity firm also recently acquired.
The combined company will bring new software tools, content and services that help organizations of all sizes to enhance their performance in acquiring and retaining customers. When the combination is complete, Cision and Vocus customers will benefit from sharing access to a comprehensive influencer database, news distribution service and media monitoring and analytics services, as well as Vocus’ new marketing automation platform.
As part of its strategy for the new company, Peter Granat has been appointed CEO of Vocus, Inc. and President of a GTCR affiliate, GTCR Canyon Holdings. The appointments are effective immediately. Granat previously held the position of Chief Executive Officer of Cision AB.
“Combining Cision and Vocus will allow us to leverage each company’s strengths across a larger combined customer base, accelerate investment in innovative functionality and increase adoption of public relations and marketing software worldwide,” said Mark Anderson, GTCR Managing Director. “With visionary leadership, smart investments and a relentless focus on customers, we believe the new organization enables us to capitalize on the significant growth opportunities in the public relations and marketing software industry.”
