Global communications intelligence company Cision will reportedly acquire Australian realtime media monitoring firm Streem in a deal that will involve transfer of 100% shares to Cision.

According to sources, the Streem brand will continue to operate in Australia and New Zealand under its present leadership team and its local staff.

Notably, the media company’s customers will benefit significantly from Cision’s global reach, while having access to the same local support, expertise, and platform that they have used since the company's launch.

Streem was established by CEO Elgar Welch and CTO Antoine Sabourin in 2017, with an aim to provide the first realtime media monitoring platform in the industry. At present, Streem is one of the rapidly progressing media intelligence firms in ANZ and services most of important government departments, airlines, banks, telecommunications, and energy companies. 

Early backers for the acquisition deal included Tony Davis - founding director of Quantium, John Eales - the ex-Wallabies captain, and Graeme Samuel - the former ACCC chief.

The innovative technology provided by the company led to a major recasting of the ANZ media intelligence industry. This led to several major brands including Qantas, Telstra, the Commonwealth Bank, and the Department of Prime Minister & Cabinet preferring Streem in the last four years.

For the unversed, Cision is an international provider of communications intelligence, with a staff of around 5,000 across 24 countries.  It is already active in Australia and New Zealand with brands like Brandwatch, PR Newswire, and Falcon.io.

The Streem acquisition further adds a full suite of media monitoring and analysis capabilities to Cision’s portfolio, which provides both local and global customers with access to a considerably enhanced service.

The deal is likely to be finalized in the first quarter of the year 2022 and depends on clearance by the Department of Justice (DoJ) in the U.S. and Australia's Foreign Investment Review Board (FIRB).

Source Credits: https://www.prnewswire.com/news-releases/streem-to-be-acquired-by-leading-global-communications-firm-cision-301447881.html