Global measurement and data analytics company, Nielsen has entered into a definitive agreement under which affiliates of Advent International (“Advent”), global private equity investor, in partnership with James “Jim” Peck, former Chief Executive Officer of TransUnion, will acquire the Nielsen Global Connect business for $2.7 billion (subject to working capital, cash, debt-like items and other customary adjustments).
Nielsen will also receive warrants in the new company exercisable in certain circumstances. Upon completion of the transaction, Nielsen Global Connect will be a private company with the flexibility to continue investing in the development and deployment of leading-edge measurement products and solutions. The transaction was unanimously approved by the Board of Directors.
Nielsen provides a complete and trusted view available of consumers and markets worldwide and has operations in over 90 countries, covering more than 90% of the world’s population.
David Kenny, Chief Executive Officer, Nielsen said that the proceeds from the sale will allow Nielsen to significantly reduce debt, which will provide greater financial flexibility to execute our growth strategy and expand our role in the global media marketplace.
He added – “All of the terrific work done by so many to pursue a spin-off will position both businesses to thrive as standalone companies and will allow us to execute a smooth transaction. We are grateful for all of this dedicated work.”
Chris Egan, Managing Partner at Advent said – “Advent is thrilled to partner with Jim in driving this next phase of growth for Nielsen Global Connect. Advent has invested in data and information services companies for nearly three decades, and earlier this year we teamed up with Jim to identify a compelling business in the sector where we can apply our combined experience and resources to create value. We see tremendous potential to build on Global Connect’s cutting-edge platform, drawing on our global footprint and operational strength to further scale the business and advance its leadership across established and emerging markets.”
Founded in 1984, Advent International is a global private equity investor. The firm has invested in over 350 private equity transactions in 41 countries, and as of June 30, 2020, had $58.4 billion in assets under management. With 15 offices in 12 countries, it has established a globally integrated team of over 200 investment professionals across North America, Europe, Latin America and Asia.
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