Data analytics company Nielsen Holdings has agreed to sell its Global Connect business segment to private equity firm Advent International for US$2.7 billion, reported Bloomberg.
The company announced Sunday, November 1, that former CEO of TransUnion, Jim Peck, would partner with Advent to accelerate Global Connect’s innovation.
By spinning off the Global connect business, Nielsen hopes to achieve enhanced financial flexibility to execute growth strategies.
Nielsen CEO David Kenny commented that “the sale of this business to Advent will deliver substantial value sooner than was anticipated through the planned spin-off and creates certainty for all stakeholders.”
The deal is expected to close in Q2 2021, and the new company will be renamed NielsenIQ.
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