Clarivate to buy ProQuest for $5.3 billion in cash and equity from Cambridge Information Group

Clarivate PLC announced Monday a deal to buy software, data and analytics company ProQuest in a deal valued at $5.3 billion from Cambridge Information Group. The deal, which is expected to close during the third quarter of 2021, includes $4.0 billion in cash and $1.3 billion in equity. Clarivate said it expects the deal to add to 2022 earnings in the double-digit percentage range, and to 2023 earnings in the mid-teens range. “Clarivate is building a globally connected and highly personalized experience for researchers, academic institutes and funders across the entire digital research value-chain, from ideation through to outcome,” said Mukhtar Ahmed, president of science at Clarivate. “With this acquisition we will be able to further empower both present and future generations of academic and corporate researchers as they each pursue their journey of innovation.” Clarivate’s stock, which was still inactive in premarket trading, has slipped 4.1% year to date, while the S&P 500 has gained 11.1%.

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