Insights exchange platform Cint has acquire rival Lucid for an estimated sum of $1.1 billion. c.$470m will be payable in newly issued Cint shares and c.$580m in cash. The deal should close by the end of the year.
Patrick Comer will become a Board member and Chairman of Cint, while Cint’s current CEO Tom Buehlmann will remain in his current position.
Buehlmann comments: ‘Cint and Lucid are complementary leaders in the insights industry, helping insights-driven companies unlock substantial efficiencies across their value chains. The combined organisation will be a global leader in technology-enabled insights, and further strengthen Cint’s current proven business model. I am thrilled to welcome Patrick Comer and the entire team at Lucid to the Cint family’.