GTCR's media intelligence platform Cision has signed an agreement to acquire PR Newswire, a provider of public relations and investor relations communications, from UBM (LON: UBM) for $841 million, or 11.2x the company's 2014 adjusted EBITDA. Deutsche Bank Securities, Barclays and RBC Capital Markets are providing debt financing to support the transaction, which is expected to close in 1Q 2016. Founded in 1954, PRN connects over 30,000 customers to their target audiences through its global distribution network via traditional, digital, mobile and social channels. Upon closing, the company would mark Cision's fifth acquisition since being backed by GTCR in 2014. The purchase price is comprised of $810 million in cash and $31 million of preferred equity on a fair-value basis.