Churchill, Clarivate agree to merge

Churchill Capital Corp, a New York-headquartered public investment vehicle, and Clarivate Analytics, a global player providing insights and analytics to accelerate the pace of innovation with offices in cities such as Beijing, London and Tokyo, announced they have entered into a definitive agreement to merge.

The combined company will operate as Clarivate and become publicly listed on the New York Stock Exchange, and the transaction implies an initial enterprise value of approximately $4.2 billion.

Jerre Stead, Churchill's CEO, who has a long tenure serving as chairman and CEO at London-headquartered IHS Markit Ltd, will serve as executive chairman of the combined company. Clarivate's existing management team will continue to lead the business.

Philadelphia-based Clarivate provides comprehensive intellectual property and scientific information, decision support tools and services that enable academia, corporations, governments and the legal community to discover, protect and commercialize new ideas and mission-critical content.

As the business completes its multi-year separation from Thomson Reuters this year, Clarivate is well-positioned for accelerated growth, the new company said in a statement.