FiscalNote, a technology innovator at the intersection of global business and government that provides advanced, data-driven Issues Management solutions, has announced that it has completed its acquisition of CQ Roll Call from The Economist Group for USD 180 million through a combination of cash and equity, the company said.
The Economist Group obtains an 18 percent equity stake in FiscalNote, making it the largest single shareholder of the company and Chris Stibbs, CEO of The Economist Group, will join the board of directors.
As part of the transaction, S&P Global (NYSE: SPGI) takes a strategic equity investment in the D.C.-based FiscalNote and appoints Mark Blake, its global head of corporate development, as a Board Observer. FiscalNote Founder Tim Hwang remains the largest individual shareholder and will lead the company going forward as Chairman and CEO.
This strategic acquisition combines the strengths of complementary businesses and will infuse CQ Roll Call´s award-winning journalism and content with FiscalNote´s proprietary technology. The combined company, now known as FiscalNote, will continue to offer award-winning journalism along with products and services that provide access to large quantities of data, news, and analysis for all levels of government to help corporations, associations, and non-profits of all sizes manage their issues.
CQ Roll Call provides news, analysis and grassroots advocacy resources for government and political professionals. It is the premier source of timely, objective news and analysis on government and electoral politics.
Transaction advisors for FiscalNote were West Arrow, Wilson Sonsini Goodrich & Rosati, and Gibson, Dunn and Crutcher LLC. Transaction advisors for The Economist Group were Ondra Partners and Morgan, Lewis & Bockius LLP.
Headquartered in Washington, DC, FiscalNote also maintains offices in New York City, Baton Rouge, Korea, India, and Belgium.