Postmedia Network Inc., announced it will sell its media monitoring division Infomart to Meltwater News Canada Inc., a company specializing in media intelligence, for gross proceeds of $38.25 million.
“We are pleased to announce a transaction that both supports Postmedia’s business strategy and provides an exceptional offering for Infomart clients,” said Andrew MacLeod, Executive Vice President and COO, Postmedia. “The transaction allows us to pay down debt and focus on core areas of the business.”
Included in the transaction are Infomart’s media monitoring business, direct feed business and professional services operations, including clients of such services.
The transaction is expected to close on or about August 15, 2017. For more information on the sale, please click here.
