Olswang advises Gorkana on its acquisition by Durrants
21 April 2010
Olswang has advised Gorkana, an online network and news service for journalists and PR professionals, on its acquisition by Durrants, a provider of media monitoring and analysis services backed by Exponent Private Equity. This will create a combined business with a turnover of more than £40m.
Gorkana was set up in 2003 by ex-PRs Alex Northcott and Michael Webster. It provides a range of services, including an industry leading media database, media alerts, journalist briefing events and a news and jobs portal, and has rapidly established itself as a valuable resource for the PR and journalist communities.
Alex Northcott, Gorkana Chief Executive, said: "This is an exciting leap forward for Gorkana and will provide scope to accelerate our growth internationally and in terms of the products we can offer. The synergies created by this deal will dramatically increase the level of journalist intelligence and insight we can provide to our core markets."
The Olswang team, comprising of Corporate partner Chris Mackie and associates Simon Armitage and Ben Barlow, used their extensive corporate media expertise to guide their client to a successful completion of the transaction, despite a pressing timetable.
