Transcontinental Inc., (TSX: TCL.A TCL.B) announces the sale of its 50% stake in CEDROM-SNi Inc., a Montréal-based firm specializing in digital media monitoring, to CNW Group Ltd., a Cision company delivering Canadian media intelligence and news distribution services. As part of this agreement, the founders of CEDROM-SNi are also selling their stake to CNW Group Ltd., which now becomes the sole owner. CEDROM-SNi’s employees, totalling approximately 110 people, remain employed in Montréal and in the satellite offices of Québec City, Ottawa, Toronto and Paris.
Nicole Guillot, Cision’s President of Canada and Corporate Director of CNW Group Ltd., noted, “We are very proud to acquire CEDROM-SNi, a company whose product and service offering is among the best-performing in the industry and is complementary to ours. By joining forces, we will be able to offer our customers an enhanced and diversified offering that is perfectly aligned with Cision’s global vision to be a leading provider of earned media software and services at the crossroads of public relations, digital and social marketing. We are pleased to welcome the talented employees of CEDROM-SNi who bring leading-edge expertise to Cision, in order to pursue our growth together.”
“We are delighted to sell to Cision as this is based on an informed and propitious decision that ensures the sustainability of a Québec company created almost 30 years ago,” said François Aird, President of CEDROM-SNi Inc. “Cision is a key player in the market, recognized for its commitment to innovation and whose values are very similar to ours. Right from our initial discussions, we understood the importance given to the exceptional skills of our teams. CEDROM-SNi has always distinguished itself by the quality of its employees. We are very grateful for their work and professionalism over the years. We would also like to thank all our customers, publishers and business partners for their trust and loyalty.”
Pierre Marcoux, Senior Vice President, Business and Education, TC Media, and a member of the Board of Directors of CEDROM-SNi, added, “We are proud to have contributed to the growth of CEDROM-SNi for two decades. This partnership has been beneficial for both of our organizations, which experienced many phases of their growth together. I would like to sincerely thank François Aird and his management team for their invaluable collaboration. Furthermore, TC Media’s brands will continue to do business with CEDROM-SNi as a content provider and for their various media monitoring requirements.”
CEDROM-SNi offers media monitoring and analytical services through its digital solution, Eureka.cc in Canada, and its European counterpart, Europresse.com in France. It serves a varied clientele consisting of large companies, government agencies, media companies, and advertising and public relations agencies, among others.
http://tctranscontinental.com/-/transcontinental-inc-and-the-founders-of-cedrom-sni-inc-sell-their-stakes-to-cnw-group-ltd-a-cision-company