Clarivate, a global firm in providing trusted information and insights to accelerate the pace of innovation, agreed to acquire ProQuest, a global software, data and analytics provider to academic, research and national institutions, from Cambridge Information Group, a family-owned investment firm, for $5.3bn. The transaction, which is subject to customary closing conditions, including regulatory approvals, is expected to close during the third quarter of 2021. "Clarivate and ProQuest are highly complementary businesses, each with a rich and storied heritage. We share the goal to accelerate innovation through research and knowledge sharing and together we will enable our customers to solve the world's most complex challenges with content dating back centuries, and technologies that address the needs of 21st century customers," Jerre Stead, Executive Clarivate Chairman and CEO.