NEW YORK, Dec. 3, 2024 /PRNewswire/ — The creation of Informa (LON:) TechTarget (NASDAQ:) 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 BrightTowerBrightTower 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 HaseltonDirector, [email protected]
