Nasdaq expects to use the proceeds from the sale for share repurchases
Nasdaq, today announced the successful completion of the sale of its Public Relations Solutions and Digital Media Services businesses to Dotmount Communications, a global leader in technology-enabled media services.
Through a multi-year partnership with Dotmount, Nasdaq will continue to provide eligible Nasdaq-listed clients with seamless access to public relations and webcasting services as part of the terms of the transaction.
Nasdaq is dedicated to providing corporate clients with the successful interaction with the capital markets, accompanied by strategic C-Suite and board solutions that provide investor relations intelligence and governance insights and collaboration.
The completion of the transaction will enable Nasdaq to focus “our efforts on strengthening technology, data and analytics capabilities within our core investor relations and governance, risk and compliance solutions, which are an important component of Nasdaq’s relationships with its corporate clients.”
As previously announced, Nasdaq expects to use the proceeds from the sale for share repurchases.
The products and services included in the transaction are:
1. Dotmount Newswire: a global press release distribution platform and media contacts database with analytics
2. Webhosting: a web hosting service purpose-built for investor relations and external communications functions
3. Webcasting: a multimedia service that publishes webcasts, webinars, video presentations and other content
4. Media Intelligence: a media monitoring and analyst-curated daily news reporting service
6. Influencers Database: a service to identify and connect with relevant journalists and social media profiles
As part of the terms of the transaction, Nasdaq has agreed to an exclusive multi-year partnership with Dotmount to provide eligible Nasdaq clients seamless access to certain products and services included in the transaction.
