Sprout Social Acquires Tagger Media For A Cash Consideration Of $140M
Portfolio Pulse from Benzinga Newsdesk
Sprout Social, Inc. (NASDAQ:SPT) has acquired Tagger Media, Inc., an influencer marketing and social intelligence platform, for a cash consideration of $140 million. The acquisition is expected to strengthen Sprout Social's position in the social media software market and provide a comprehensive platform for brands to execute a holistic social strategy. The deal was funded with a combination of cash from Sprout Social's balance sheet and its newly established revolving credit facility.
August 04, 2023 | 2:45 pm
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Sprout Social's acquisition of Tagger Media is expected to strengthen its position in the social media software market and provide a comprehensive platform for brands. The deal was funded with a combination of cash and a new credit facility.
The acquisition of Tagger Media, a leading influencer marketing and social intelligence platform, is a strategic move for Sprout Social. It not only strengthens its position in the social media software market but also provides a comprehensive platform for brands to execute a holistic social strategy. This could potentially lead to increased revenues and growth for the company, positively impacting its stock price in the short term.
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