TechTarget Joins Forces with Informa's UK Digital Business Merger

TechTarget Joins Forces with Informa's UK Digital Business Merger

24 Jan, 2024

TechTarget Joins Forces with Informa's UK Digital Business Merger

 

TechTarget has officially agreed to merge its digital businesses with Informa, a London-based events organizer, as part of a strategic move to enhance its portfolio and diversify revenue streams. In this significant development, Informa Tech will contribute its digital operations and $350 million, gaining a 57% ownership stake in the combined entity. In return, TechTarget shareholders will receive $11.79 per share and retain the remaining stake.

The merger aims to leverage scale benefits, create diversified revenue streams, and explore strategic expansion opportunities by enlarging TechTarget's current addressable market. This move resulted in a 15% increase in TechTarget shares during extended trading, following a 21% loss in stock value in 2023.

Informa Tech's digital businesses encompass Omdia, a technology research organization, and a range of digital media brands including InformationWeek, Network Computing, and AI Business. The combined company, headquartered in Newton, Massachusetts, is poised to serve more than 8,600 customers across 20 countries, more than doubling TechTarget's existing addressable market.

Gary Nugent, the current CEO of Informa Tech, is set to become the CEO of the newly formed company. The transaction is scheduled to close in the second half of 2024, subject to regulatory approvals. This merger positions the united entity for strategic growth and increased market influence in the digital business landscape.

 

 


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