Cambridge Information Group (CIG) has closed its previously announced transaction with ProQuest Company and acquired ProQuest Information and Learning. CIG will combine its Bethesda, Maryland-based CSA subsidiary with Ann Arbor, Michigan based ProQuest Information and Learning to create a new, privately held independent company, ProQuestCSA. The transaction, valued at $222 million, was backed by a minority equity investment in ProQuestCSA from ABRY Partners, LLC. Goldman, Sachs & Co. acted as financial advisor to CIG and ABRY with respect to the acquisition. Morgan Stanley Senior Funding and Goldman, Sachs Credit Partners L.P. arranged the financing for the transaction. ProQuestCSA will serve a combined customer base of more than 30,000 institutional customers and their users, providing them with access to information resources. The company will continue operations in both Ann Arbor and Bethesda.
(www.cambridgeinformationgroup; www.csa.com; www.il.proquest.com)