The consolidation in the press release distribution business now moves from U.S. to Canada: Omers Capital Partners, the private equity arm of Canadian pension fund Omers, has bought Toronto-based news release distributor CCNMatthews for cash, but terms were not disclosed. Manulife Capital, the private equity group of Manulife Financial, will take a minority stake in CCNMatthews as a portfolio investment.
CCNMatthews distributes news releases, multimedia content and photos to media outlets and investors in North America. Along with its U.S. unit MarketWire (which it bought a few months ago), it issues more than 90,000 press releases a year on behalf of companies, governments, non-profit and other groups. Its former owner was the London-based Pims Group, which acquired CCNMatthews in 2001. More details in the release here.
Related:
—CCNMatthews Acquires MarketWire
—Nasdaq To Buy Corporate Press Release Firm PrimeZone
—Online Press Release Firm PRWeb Bought For $28 Million
—PR Newswire Acquires U.S. Newswire For Up To $23 Million