Tue, 21 Jan 2014 | BUSINESS SALE
UK media company Gorkana is reportedly making preparations for a business sale in the coming months.
Reports from the Financial Times revealed that the group, which is one of the UK's largest media monitoring companies, is mulling a change of ownership. When the company does change hands it will follow several years under private equity ownership.
Precise, a company that performs a similar service to Gorkana, is also said to be considering a sale. The company chief executive, Peter Low, told the paper that business has changed significantly since the firm last changed hands and has moved on from the days when it simply cut articles out of print publications to send to clients.
“It's about associating different datastreams. A lot of clients struggle because they treat [online news articles, social media updates and other information] as silos,” he told the FT.
Precise is said to be seeking a valuation in the region of £60 million. Gorkana's ideas of price are unclear, but when the business last changed hands back in 2010, it was bought by private equity firm Exponent for £25 million.
Data firms, as well as online networks are thought to be among those to show an interest in the two firms, alongside traditional competitors. No matter who buys the firm, one thing is clear: these companies have come a long way from their roots and whoever takes them on next will need to keep innovating if they are to stand a chance in the competitive, evolving media marketplace.
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