Clarivate acquires ProQuest in 2021
In December of 2021, Clarivate announced its successful acquisition of competitor ProQuest. ProQuest is known as a global leader in software and data distribution. Clarivate CEO Jerre Stead has characterized the acquisition as vital to the company’s product portfolio, stating, “Acquiring ProQuest gives Clarivate a compelling opportunity to offer multi-disciplinary curated content from one of the world’s largest collections and best of breed SaaS software solutions serving our strategic partners at governments, corporations, academia and public libraries across the globe.” The company anticipates this acquisition, combined with organic revenues, will help drive profits over the 2022 period.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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