Nasdaq ponders sale of public relations and digital media units
28 September 2017 | 2399 views | 0
Nasdaq, Inc. (Nasdaq:NDAQ) announced today that it has commenced a process to evaluate potential strategic alternatives for the Public Relations Solutions and Digital Media Services units within its Corporate Solutions business.
This process is a result of Nasdaq's refined strategic direction, which emphasizes the company allocating more resources towards technology, data and analytics opportunities, leveraging its capital markets foundation.
"Nasdaq Corporate Solutions is a market-leading franchise built over the last decade to help public and private companies around the world successfully navigate the capital markets," said Adena Friedman, President and CEO, Nasdaq. "As a technology company, our growth path requires a review of our core strengths matched with the evolving needs of our clients. We intend to use our strengths in advanced marketplace technology and information analytics, coupled with our deep understanding of market dynamics, to provide actionable intelligence to corporate executives and boards, through our world-leading Investor Relations and Governance intelligence and collaboration tools."
The Public Relations Solutions and Digital Media Services businesses include the following products and services:
• Nasdaq GlobeNewswire: a global press release distribution platform and media contacts database
• Nasdaq Influencers: a service to identify and connect with relevant social media profiles
• Nasdaq Media Intelligence: a media monitoring and analyst-curated daily news reporting service
• Nasdaq IR Websites and Newsrooms: an open source-enabled webhosting service for investor relations and communications functions
• Nasdaq Webcasts: a multimedia service that publishes webcasts, webinars, video presentations and other content
Over the twelve month period ending June 30, 2017, the Public Relations Solutions and Digital Media Services businesses generated approximately $195 million of revenues and $25 million of operating income.
Nasdaq is dedicated to providing corporate clients with successful access and interaction with the capital markets, accompanied by strategic C-Suite and board solutions that provide investor relations intelligence and governance collaboration. Nasdaq plans to continue to invest in its Investor Relations solutions, as well as its Board & Leadership tools as strategic solutions to our thousands of global corporate clients.
Nasdaq has not set a definitive timetable for this process, nor has it made final decisions related to specific strategic alternatives at this time. Throughout this process, Nasdaq remains committed to all contracts and services and there will be no change to the high level of service the company delivers to its corporate clients. Nasdaq does not intend to provide further public comments on the strategic evaluation of these businesses unless there is a material development.