Advent to acquire Nielsen Global Connect business for USD 2.7 billion

By Akshay Kedari  | Date: 2020-11-02

Advent to acquire Nielsen Global Connect business for USD 2.7 billion

New York-based information and market assessment firm, Nielsen Holdings plc, has reportedly announced to have signed a definitive agreement with Advent International, a global private equity firm. As per the agreement, Advent, in partnership with former CEO of TransUnion James Peck, will acquire business operations of Nielsen Global Connect for USD 2.7 billion.

Sources aware of the development stated that Advent International will support and boost Nielsen Global Connect’s transformation and innovation in consumer as well as market measurement.

Nielsen Global Connect will reportedly become a private firm upon completion of the transaction and will continue to invest in the development as well as the deployment of advanced market measurement solutions.

In this context, sources confirmed that Nielsen Holdings will acquire warrants in the newly formed firm under certain conditions. The company is also planning to utilize the net proceeds to lower its debt and for other corporate purposes.

David Kenny, CEO at Nielsen Holdings, was reported saying that the proceeds from the transaction will also provide the company with financial flexibility for the deployment of business-centric strategy and to expand its reach in the global media marketplace. He added that by leveraging Advent’s expertise, Nielsen will not only create but also define the next-gen consumer and market measurement solutions.

Managing Partner at Advent International, Chris Egan mentioned in a comment that the company had teamed up with James Peck in order to identify a captivating information service provider. He further claimed that Advent is looking forward in accelerating Nielsen Global Connect’s growth.

If reports are to be believed, David Rawlinson will continue to act as the CEO of Nielsen Global Connect and is likely to be a part of the management team. Meanwhile, James Peck will be involved in daily strategic and operational activities of the new private firm, which will be headquartered in Chicago.

For those unfamiliar, Nielsen Global Connect provides data and develops tools that utilize predictive models in order to convert market observations into business decisions. The company will reportedly be renamed to NielsenIQ by early 2021.

Source Credits –

https://ir.nielsen.com/investor-relations/shareholder-information/press-releases/Press-Release-Details/2020/Nielsen-Announces-Sale-of-Global-Connect-Business-to-Advent-International-for-2.7-Billion/default.aspx

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More >>

More News By Akshay Kedari

Saudi’s Seera Group, Air Connectivity Program ally to drive tourism air connectivity

Saudi’s Seera Group, Air Connectivity Program ally to drive tourism air connectivity

By Akshay Kedari

Saudi’s Seera Group, a reimagined Al Tayyar Travel Group, has reportedly collaborated with the Saudi Air Connectivity Program, an initiative the government took to enhance and develop tourism air connectivity in the kingdom. Apparently, Seer...

Bayer sells environmental science biz to Indian firm for $13.5 million

Bayer sells environmental science biz to Indian firm for $13.5 million

By Akshay Kedari

German multinational pharmaceutical and biotechnology company, Bayer CropScience recently stated that its board has given the go-ahead for selling its Environmental Science Business to 2022 ES Discovery India, a private Indian company. The deal wi...

Stockly to raise another $12M to expand its operations & employee base

Stockly to raise another $12M to expand its operations & employee base

By Akshay Kedari

French-based software startup, Stockly is reportedly raising another $12 million (€12 million) in a Series A round from Daphni, Eurazeo, and several other business angels. Apparently, the firm pools together the inventory of several e-commerc...

Alipay+ allies with Asian E-Wallets to boost cashless travel in South Korea

Alipay+ allies with Asian E-Wallets to boost cashless travel in South Korea

By Akshay Kedari

Amidst rising efforts for promoting cashless travel, prominent mobile payment providers in Asia have recently announced an integration of the cross-border digitalized payment solutions from Alipay+ in South Korea. With this move, users of e-wallet...

Seracle, Sumsub partner for offering enhanced KYC protocols and cybersecurity

Seracle, Sumsub partner for offering enhanced KYC protocols and cybersecurity

By Akshay Kedari

Sumsub will assist Seracle in building an innovative blockchain ecosystem Sumsub will offer enhanced security to Seracle at a time when losses due to cryptocurrency thefts have increased by about 60% to $1.9 billion Seracle, a global blockc...