KUALA LUMPUR, April 17 (Bernama) -- West Corporation has completed the acquisition of the public relations and digital media businesses from Nasdaq for approximately US$335 million. (RM1.3 billion).
"This partnership adds tremendous value and capability for thousands of clients as West continues to deliver and invest in global omni-channel digital media products and services. We are extremely confident in our ability to grow and enhance this business, " said president of West Corporation, Rob Wechsler.
Both companies have agreed to an exclusive multi-year partnership, offering eligible Nasdaq-listed clients seamless access to press release distribution, web hosting, and webcasting solutions as part of the terms of the transaction, a statement said.
The products and services included in the acquisition are -- GlobeNewswire, a global press release distribution platform and media contacts database with analytics; Web Hosting service, built for investor relations and external communications functions; Webcasts, a multimedia service that publishes webcasts, webinars, video presentations; Media Intelligence, a media monitoring and analyst-curated daily news reporting service; and Influencers Database, a service to identify and connect with relevant traditional and social media profiles.
The acquisition broadens West´s portfolio for organisations across all industries to help enterprises more effectively communicate with their investors, customers and employees through targeted, timely delivery of relevant messaging, statement from West said.
Nasdaq is dedicated to provide corporate clients with successful interaction with the capital markets, accompanied by strategic C-Suite and board solutions that provide investor relations intelligence and governance insights and collaboration, a statement from Nasdaq said.
The completion of the transaction will enable Nasdaq to focus on strengthening technology, data and analytics capabilities within its core investor relations and governance, risk and compliance solutions, which are an important component of Nasdaq's relationships with its corporate clients.
Clients from Nasdaq IR Insight, Nasdaq Boardvantage and Nasdaq BWise will continue to receive services to help them navigate the capital markets, manage their relationships with investors and establish a strong governance foundation, the Nasdaq statement said.
West Corporation is a leading technology enablement company helping its clients to more effectively communicate, collaborate and connect with their audiences through a diverse portfolio of innovative solutions. More information at www.west.com and http://business.nasdaq.com
--BERNAMA
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