B2B information. Washington-based FiscalNote has completed its acquisition of CQ Roll Call from The Economist Group for $180m through a combination of cash and equity. The Economist Group gets an 18% share in FiscalNote. As part of the transaction, S&P Global also takes a strategic equity investment. FiscalNote Founder and chairman/CEO Tim Hwang remains the largest individual shareholder in the company which, he says, “began out of our desire to answer a fairly simple question: why isn’t there a way to keep track of what’s happening in government — at every level — in a simple, comprehensive, and reliable way?” That explains the five-year-old company’s success but what remains a mystery is why The Economist wanted to sell its long-term media asset CQ Roll – and partly for a minority shareholding in a newish, albeit high-rated, company.
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FiscalNote completes Roll Call deal
