Benzinga | May 17, 2021 06:04AM EDT

Clarivate to Acquire ProQuest For $5.3B

- Establishing a premier provider of end-to-end research intelligence

- Combination opens a gateway to one of the world's largest information sources serving education, science and intellectual property professionals worldwide

- Acquisition brings more than $875 million in revenue and more than $350 million of Adjusted EBITDA after cost synergies to Clarivate

- Accretive to adjusted diluted earnings in 2022 with significant revenue and cost synergies. Clarivate reaffirms standalone 2021 financial outlook

- Clarivate to host conference call today at 8:00 AM ET to discuss transaction

LONDON, May 17, 2021 /PRNewswire/ -- Clarivate plc (NYSE:CLVT), a global leader in providing trusted information and insights to accelerate the pace of innovation, today announced a definitive agreement to acquire ProQuest, a leading global software, data and analytics provider to academic, research and national institutions, from Cambridge Information Group, a family-owned investment firm, and other partners including Atairos, for $5.3 billion, including refinancing of ProQuest debt. The consideration for the acquisition is approximately $4.0 billion in cash and $1.3 billion of equity. The transaction, which is subject to customary closing conditions, including regulatory approvals, is expected to close during the third quarter of 2021.