Motive Partners Completes Significant Investment in Dun & Bradstreet
Stephen C. Daffron, Industry Partner of Motive Partners, Appointed President of Dun & Bradstreet
NEW YORK and LONDON, Feb. 11, 2019 /PRNewswire/ -- Motive Partners announced the completion of the previously announced acquisition of Dun & Bradstreet (the "Company") as part of an investor group led by CC Capital, Cannae Holdings, Bilcar, LLC, Black Knight, Inc., and funds affiliated with Thomas H. Lee Partners, L.P.
In connection with Motive Partners' investment in Dunn & Bradstreet, Stephen C. Daffron, Co-Founder and Industry Partner of Motive Partners and former President & Chief Executive Officer of Interactive Data Corporation, has been appointed President of Dun & Bradstreet, joining a leadership team comprised of William P. Foley II, Executive Chairman of the Company's Board of Directors, and Anthony Jabbour, Chief Executive Officer of the Company.
Stephen C. Daffron, President of Dun & Bradstreet and Industry Partner of Motive Partners, commented: "Dun & Bradstreet has 177 years of history serving its global customer base, and we look forward to building upon this heritage with enhanced business solutions that meet the evolving needs of our customers. I am pleased to join the Company's leadership team as President, and to work alongside Bill and Anthony to help realize significant value at the Company. I am confident that we can better serve our customers, accelerate growth and increase operating efficiency, and I look forward to pursuing these objectives alongside my colleagues at Dun & Bradstreet and with the support of Motive Labs, the innovation and value-creation arm of Motive Partners."
Motive Labs' experienced innovators, technologists and operators work with management teams and business leaders to create value by delivering efficiency and unlocking revenue opportunities through the application of emerging technologies. Today, Motive Labs works with an international network of financial institutions, portfolio companies and strategic partners to deliver market-leading innovation services and solutions.
Rob Heyvaert, Managing Partner of Motive Partners, commented: "We are proud to play an important role among the investor group in helping unlock value within this renowned company. Through Steve's expertise, experience and leadership and with the support of our value creation team at Motive Labs, we are pleased to be able to apply the specialized capabilities of the innovators and operators from our platform for the benefit of the Company's customers, employees and investors."
As a result of the completion of the transaction, shares of Dun & Bradstreet common stock has ceased trading on the New York Stock Exchange ("NYSE").
Gibson, Dunn & Crutcher, LLP served as legal counsel to Motive Partners in connection with its investment in Dun & Bradstreet.
About Dun & Bradstreet
Dun & Bradstreet, the global leader in commercial data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet's Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity.
About Motive Partners
Motive Partners is a sector specialist investment firm that is focused on technology enabled companies that power the financial services industry. Based in New York and London and comprised of investors, operators and innovators, Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies. Motive Labs works with a large international network of financial institutions, portfolio companies and strategic partners to deliver market-leading innovation services and solutions.
More information on Motive Partners can be found at www.motivepartners.com.
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