Back in June, our fearless leader Patrick Coffee had a nice conversation with someone you really need to know — Peter Granat, who is the new CEO of the now-merged Vocus and Cision media database software organizations.
Yes, kids, it’s official.
All the technology you love and the customer service you might not is now part of one big happy, unified family. And just like the Brady Bunch, they all have to live under one roof: One Prudential Plaza on East Randolph in Chi City. Movin’ on up, anyone?
Now you would think with this merger that Vocus and Cision would merge into … say it with me … Vision! Nah, it’s still Cision.
Private equity firm CTGR Canyon Holdings, which will house 1,500 employees in the Windy City, is at the epicenter of this quake heard ’round the PR world. And now, it’s a real estate coup because as we all know in PR, the name of the game is location, location, location.
This is either going to be a huge asset to the PR community, or a colossal firewall that everyone is going to be forced to handle.
“I think it’s a great opportunity to build this headquarters in downtown Chicago,” said Granat, to the Chicago Tribune. “There’s a lot of development going on bringing tech jobs back into the city. … It’s a great market to recruit and build out the global headquarters.”
In April, publicly traded Vocus agreed to be acquired by GTCR for $446.5 million. The transaction closed in May. Cision, which was publicly traded in Sweden, was acquired for about $170 million and taken private in August, according to Granat.
No word yet on whether others dealing with this merger are going to be on the unemployment line as a result of the move, but we’ll follow up on this story next week.
ADDENDUM: It’s important to note that Cision is spread across 18 offices in 9 countries. Because of their impressive wingspan, employees will not be relocating to the Chi…just the real estate. (S/O to SHIFT for the note).