Gannett To Acquire Digital Marketing Software Company WordStream, Inc.
Gannett Co., Inc. announced that it entered into an agreement to acquire WordStream, Inc., a provider of cloud-based software-as-a-service (SaaS) solutions for local and regional businesses and agencies to optimize their digital marketing services campaigns. The purchase price is $130 million in cash, net of cash acquired, plus up to an aggregate $20 million earnout payable in 2019 and 2020 based on achieving certain revenue targets. The transaction builds upon Gannett’s existing data-driven digital marketing services, ReachLocal and SweetIQ. “This acquisition marks another critical milestone in Gannett’s digital transformation, enhancing our ability to support businesses and agencies in our local markets with the intelligent, data-driven marketing solutions they need to drive growth,” said Robert Dickey, president and chief executive officer of Gannett. “WordStream’s technology, extensive data and analytics capabilities together with an experienced executive team will bring tremendous value to Gannett’s expanding digital marketing services business.” Click Read More below for additional information.