Nearly a month after FiscalNote announced it would be acquiring CQ Roll Call from The Economist Group, the D.C.-based startup has officially completed the $180-million deal.
With the new acquisition, FiscalNote CEO Tim Hwang remains the largest individual shareholder and will head the company as chairman and CEO, according Roll Call. The Economist Group holds an 18 percent stake in the combined company, making it the largest stakeholder; that company’s CEO, Chris Stibbs, will join the board of directors.
@FiscalNote today announces the completion of its acquisition of CQ Roll Call! We are excited to welcome the @CQRollCall team into the FiscalNote family!
Check out @stephanieakin story on the news.https://t.co/YFpcNHAPU5
— FiscalNote (@FiscalNote) August 20, 2018
“I am humbled by the opportunity to oversee the next phase of FiscalNote growth while protecting the legacy and tradition of the CQ and Roll Call brands,” Hwang said in a press release. “The combination of FiscalNote’s technology with CQ Roll Call’s non-partisan and unbiased information and analysis creates an exciting opportunity to further our mission of connecting the world to their governments, enabling us to better serve customers and readers.”
The acquisition makes the legislation tracking platform one of the largest tech employers headquartered in D.C. by employee count, according to the company. FiscalNote will be expanding its current Pennsylvania Avenue office to bring CQ Roll Call under the same roof. As we reported yesterday, Technical.ly alum Andrew Zaleski recently took a deep look at FiscalNote’s growing impact on K Street culture.