TechTarget To Expand Scale And Leadership Position In B2B Data And Market Access through Strategic Combination With Informa Tech's Digital Businesses; TechTarget Shareholders To Receive ~$11.79 Per Share In Cash And Retain A 43% Stake In New TechTarget
Portfolio Pulse from Benzinga Newsdesk
TechTarget (NASDAQ:TTGT) and Informa PLC (LSE: INF.L) have announced a definitive agreement to combine Informa Tech's digital businesses with TechTarget, creating a new entity, New TechTarget. TechTarget shareholders will receive approximately $11.79 per share in cash and retain a 43% stake in the new company. Informa PLC will contribute its digital businesses and $350 million in cash for a 57% stake in New TechTarget. The combined company is expected to achieve double-digit organic revenue growth, 35%+ Adjusted EBITDA margins, and strong free cash flow within three years. The merger aims to create a leading global platform in B2B Data and Market Access, expanding TechTarget's addressable market and enhancing business resilience by entering new markets and buyer personas.
January 10, 2024 | 9:37 pm
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TechTarget shareholders to receive $11.79 per share in cash and retain a 43% stake in New TechTarget. The merger with Informa Tech's digital businesses is expected to drive growth and expand market reach.
The cash payout to shareholders and the retention of a significant stake in the new, larger entity is likely to be viewed positively by the market. The expected growth and market expansion from the merger could lead to increased investor confidence and a potential rise in stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100