NEW
YORK, Dec. 3, 2024 /PRNewswire/ -- The
creation of Informa TechTarget was confirmed yesterday, following
the successful completion of the combination of TechTarget, the
global leader in purchase intent-driven services, with Informa
Tech's digital businesses – part of Informa PLC (LSE: INF.L), a
FTSE-50 UK Group with a leading position in international B2B
events, B2B digital services and academic knowledge. Informa
TechTarget aspires to be the leading B2B growth accelerator for the
technology industry, delivering services that help companies move
faster to market and faster to revenue. Trading of the new
company's common stock commences today, December 3, 2024, on the Nasdaq Global Select
Market under the ticker symbol "TTGT."
BrightTower, a New York City
headquartered investment banking and M&A advisory services
firm, served as a financial advisor to TechTarget in this
transaction.
Informa TechTarget now employs more than 2,000 people and serves
7,500 customers worldwide and sits at the growing intersection of
two exciting markets – tech and B2B marketing – estimated to be a
$20 billion annual market
opportunity. The new company will offer technology vendors powerful
solutions built on the back of its unique B2B audiences,
permissioned intent data, specialist insights and expertise,
helping them reach, engage and influence technology buyers and
driving exceptional outcomes across the entire go-to-market.
Gary Nugent, former CEO of
Informa Tech, will serve as the new CEO.
"Following the definitive agreement between TechTarget and
Informa earlier this year, we are delighted to combine our
strengths as Informa TechTarget," said Gary
Nugent, CEO Informa TechTarget. "Our business serves an
attractive, dynamic growth market, underpinned by increasing demand
for B2B solutions built upon permission-based audiences and
first-party data. Informa TechTarget has a unique set of assets,
brands and talents that address the go-to-market challenges of
today's B2B technology vendors across their product lifecycle, from
R&D to ROI, helping to accelerate time to market and to revenue
while delivering long-term value to our shareholders."
Informa PLC has contributed $350
million of cash and the Informa Tech Digital Businesses in
exchange for an approximately 57% equity stake in the new company.
The $350 million of cash, or
approximately $11.70 per outstanding
TechTarget share, will be paid to existing TechTarget shareholders,
who also retain an approximately 43% equity stake in the new
company.
About BrightTower
BrightTower is a New York City
headquartered investment bank focused on M&A advisory services,
capital raising, and debt capital markets. The firm leverages
sector expertise, global reach, and tailored insights to deliver
enterprise advisory services across the software,
technology-enabled marketing, IT business services, and information
markets. BrightTower is focused on growing a robust ecosystem
supporting entrepreneurs, private equity firms, growth equity
firms, venture capitalists, debt providers, and corporations as
they stay ahead of quickly evolving markets. The firm is committed
to delivering world class advisory talent to every engagement that
builds trust in the knowledge economy. Visit us on LinkedIn.
Contact:
Christie Haselton
Director, Development
BrightTower
christieh@brighttower.com
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SOURCE BrightTower
