Business
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 approximately $11.79 per share in cash and retain a 43% stake in New TechTarget, allowing them to participate in the
About this update from Techtarget, Inc.
[{"type":"text","content":"\nTechTarget shareholders to receive approximately $11.79 per share in cash and retain a 43% stake in New TechTarget, allowing them to participate in the long-term value creation of the combined business\n\n\nInforma PLC to contribute Informa Tech’s digital businesses and $350 million of cash in exchange for 57% stake in New TechTarget\n\n\nNew TechTarget expected to drive double-digit organic revenue growth, 35%+ Adjusted EBITDA margins and strong free cash flow within three years of closing\n\n\nTechTarget reports preliminary unaudited full year 2023 revenue and Adjusted EBITDA\n\n\n NEWTON, Mass.--(BUSINESS WIRE)--\nTechTarget (NASDAQ: TTGT) and Informa PLC (LSE: INF.L), a FTSE-50 UK Group with a leading position in international B2B events, digital services and academic knowledge, today announced that the companies have entered into a definitive agreement whereby Informa PLC will combine Informa Tech’s digital businesses with TechTarget to create a leading global platform in B2B Data and Market Access, focused on helping vendors in enterprise technology and other markets accelerate revenue growth. The combined company (“New TechTarget”) is expected to position TechTarget as a unique end-to-end solution provider across the go-to-market: from strategy, messaging and content development to in-market activation via brand, demand generation, purchase intent data and sales enablement. The combination brings scale benefits, diversified revenue streams and strategic expansion opportunities by expanding TechTarget’s current addressable market and enhancing the resilience of its business by increasing its presence in new markets and new buyer personas.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240110017625/en/\nInforma PLC will contribute its Informa Tech digital businesses and $350 million of cash in exchange for a 57% stake in the combined company. The $350 million of cash, or approximately $11.79 per outstanding TechTarget share, will be paid to existing TechTarget shareholders upon completion of the transaction. Existing TechTarget shareholders will also retain a 43% equity stake in New TechTarget, allowing them to participate in the long-term value creation of the combined company. The businesses being contributed from Informa Tech consist of:\n\n\n\nOmdia, the...