Startups

FiscalNote plans to acquire CQ Roll Call

The deal, which the two sides intend to close later this year, would bring together a data startup and established D.C. media.

FiscalNote CEO Tim Hwang speaks at a Center for Data Innovation event. (Photo via Twitter)
This story was updated to reflect The Economist Group's equity position at 10:55 a.m. on 7/26/18.

FiscalNote is making a move into media.

The D.C.–based startup announced plans to acquire news organization CQ Roll Call from The Economist Group. Terms of the deal were not disclosed.

With the deal, The Economist Group will receive an 18 percent stake in the combined company, to make it the largest shareholder. FiscalNote CEO Tim Hwang would remain the largest individual shareholder, according to the companies.

Known for news and analysis, CQ Roll Call was formed in a 2009 merger of two publications with long histories in D.C. media circles.

Five-year-old FiscalNote makes a data platform that helps government and business clients track legislation and regulations. With the acquisition, FiscalNote is looking to add CQ Roll Call’s editorial expertise, as well as advocacy resources. Details haven’t yet emerged about a combined offering.

“We are excited to provide our clients with greater access to enhanced products that will inform their decision making and maximize their influence on government as they tackle the challenging issues impacting their business,” Hwang said in a statement.

It’s just the latest acquisition over the last year for FiscalNote, which also bought grassroots platform VoterVoice in 2017, then added European Union–focused issue tracking company Shungham to kick off 2018. In D.C., the company moved into a new headquarters.

The acquisition is expected to close later this year.

Companies: FiscalNote
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