Triton makes public offer for Cision

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Triton, through its Swedish holding company Cyril Acquisition AB, has made a public offer of SEK 1.5bn for Cision, a Stockholm-based PR, IR and marketing communication and consultancy business. Triton has announced its bid at SEK 20 per share, which is a 66% premium compared with the closing price on 29 April 2008.

According to the company, the board accepted a request for a limited due diligence prior to the announcement of the offer, and certain non-public information has been disclosed to Triton.

The board also said in a statement that it views it positively that the shareholders are given an opportunity to consider the offer, and it will now carefully evaluate it and make an announcement on the acceptance shortly.

Anders Boos, the chairman of the Cision board, is also a member of the industrial board of Trition and has stated that he will not participate in any preparation or decision made by the board on connection with the offer.

Cision provides services and software solutions for reputation and campaign management, media monitoring and research of media contacts. The company's shares are quoted on the OMX Nordic Exchange and it has 17,000 shareholders. The group has approximately 2,600 employees and recorded turnover of SEK 1.9bn in 2007. Cision also has offices in Norway, the US, the UK, Canada, Germany, Finland, Denmark, Portugal, Lithuania, The Netherlands and China and has partners in 125 countries.