Realtime media monitoring company Streem announced it has accepted an offer to be acquired by global communications intelligence company Cision.
The transaction results in a sale of 100% of Streem shares to Cision and will see the Streem brand and platform continue in ANZ under its current leadership team and local staff.
Significant benefits will flow to Streem customers from the global reach of Cision, and clients will receive the same local support, expertise and Streem platform they have experienced.
Streem, led by Elgar Welch, a former staffer in the prime minister’s office, and Antoine Sabourin has a mission to provide the market’s first realtime media monitoring platform.
Streem’s market reach
Streem is a fast growing media intelligence company and services the majority of the market’s major government departments, banks, airlines, telecommunications and energy companies.
Early backers included Quantium founding director Tony Davis, former Australian Competition and Consumer Commission chief Graeme Samuel and ex-Wallabies captain John Eales.
The company’s local Board of Directors are Samuel Marks, Karyn Munsie and David Wakeley.
Their innovative technology and platform offering resulted in a major recasting of the ANZ media intelligence industry, with major brands including Telstra, Qantas, the Commonwealth Bank and the Department of Prime Minister & Cabinet moving to Streem in the last 4 years.
Elgar Welch, the Chief Executive Officer at Streem expressed his optimism with the growth.
“With local staff servicing over 400 clients, Streem has grown faster than we ever could have imagined thanks to great tech, strong support from customers and an incredible local team.”
“Having successfully leveraged the backing of Cision, we will continue to build upon that growth and delivering new tools and products to help communications teams work smarter.”
Streem joins forces with ‘experienced’ Cision
Cision is a provider of communications intelligence with nearly 5,000 staff in 24 countries.
Already active in ANZ with its PR Newswire, Brandwatch and Falcon.io brands, the acquisition of Streem adds a full-suite of media monitoring and analysis capabilities that gives both local and global customers interested in ANZ coverage access to a significantly enhanced service.
Abel Clark, the Chief Executive Officer at Cision offered insights, “Streem has quickly established itself as the customer preferred media intelligence platform in the ANZ market.”
“Streem’s customers will benefit enormously from Cision’s world-wide geographical reach and we are therefore excited to be able to offer a full-suite of monitoring, distribution, insights and social media solutions in ANZ that both our local and global customers can benefit from.”
Streem will continue to operate as an independent brand with its full-service media monitoring and insights services, and customers will quickly see the benefits of Cision’s global footprint.
Cision’s footprint includes integrations of Brandwatch’s social data, PR Newswire’s media database and global media content and analytics spanning millions of sources.
Streem’s Chief Technology Officer and co-founder Antoine Sabourin said that their success was driven by a strong focus on solving real world problems for communications teams.
“Cision’s investment means Streem can keep investing in great people, tech and innovation, resulting in major benefits for customers in the coming weeks and months,” Sabourin said.
Streem’s Management team will continue with the business, and original co-founders Elgar Welch (CEO) and Antoine Sabourin (Chief Technology Officer) will remain in their roles.
The deal is expected to close in the first quarter of 2022 and is subject to clearance by Australia’s Foreign Investment Review Board (FIRB) and the Department of Justice (DoJ) in USA.