Clarivate to acquire ProQuest for $5.3bn

Clarivate has announced a definitive agreement to acquire ProQuest, establishing what it describes as ‘a premier provider of end-to-end research intelligence’. 

ProQuest delivers content and technology solutions to more than 25,000 academic, corporate and research organisations in more than 150 countries. Clarivate says the acquisition will establish the company as a premier provider of end-to-end research intelligence solutions and significantly expand its content and data offerings.

Clarivate stated: ‘By bringing together these two customer-focused businesses with a purpose to accelerate innovation at their core, we will create a world-leading software and information provider for research-focused organisations to fuel scientific discovery and innovation into the future.’

The consideration for the acquisition is approximately $4.0 billion in cash and $1.3 billion of equity. The transaction, which is subject to customary closing conditions, including regulatory approvals, is expected to close during the third quarter of 2021.

Jerre Stead, executive chairman and CEO at Clarivate, said: ‘Clarivate and ProQuest are highly complementary businesses, each with a rich and storied heritage. We share the goal to accelerate innovation through research and knowledge sharing and together we will enable our customers to solve the world’s most complex challenges with content dating back centuries, and technologies that address the needs of 21st century customers.’

Andy Snyder, chairman of ProQuest and CEO of Cambridge Information Group, added: ‘I have seen ProQuest evolve to meet our customers’ ever-changing needs over the last several decades and fully understand that the challenges and opportunities they face have never been greater. I am confident that the company will continue to have the resources required to maintain the impressive track record of innovation that our customers count on – to create a world leading organisation in research and innovation.’