Cision acquires analytics startup TrendKite for $225mn
Chicago-based digital public relations company Cision announced this week the acquisition of TrendKite, an artificial intelligence-driven analytics startup headquartered in Austin, Texas. Founded in 2013, Trendkite hosts a digital PR platform that uses machine learning automation to improve social media marketing campaigns.
Cision has reportedly paid US$225mn for TrendKite, which represents the 12th acquisition by the PR company since its merger with Vocus in 2014, according to PR Week. Most recently, Cision purchased Copenhagen-based social media company Falcon.io in January 2019.
Following the acquisition, TrendKite’s platform will continue to be offered independently, although Cision has announced plans to incorporate it into the company’s Cision Communications Cloud package. “We’re planning on keeping everything and investing more in it, be that locations or people,” Cision Chief Executive Officer Kevin Akeroyd said in an interview with Bloomberg. The TrendKite leadership team, according to Bloomberg, will be incorporated into Cision’s executive staff, with no layoffs expected.
TrendKite’s platform and software solutions will help Cision achieve more specific media targeting in its campaigns. The “social influencer management functionality will enable brands to identify and build relationships across platforms with a range of personalities, from the world's most influential people to niche subject matter experts. Coupled with the Cision Influencer Graph, which understands the connections between an influencer, the content they create, and the audiences they reach, Cision will offer more insights for brands to effectively reach their target audience through earned media outreach.”
"TrendKite and Cision share the same mission of helping clients improve the results of earned media campaigns," said Erik Huddleston, TrendKite CEO. "Combining our offerings and capabilities with Cision's comprehensive earned media platform will allow us to powerfully impact the marketing communications industry and provide best-in-class PR and communications solutions."