BUSINESSWIRE – NEWTON, Mass.–(BUSINESS WIRE)–TechTarget, Inc. (Nasdaq: TTGT), the global leader in B2B technology purchase intent data today announced a definitive agreement to acquire BrightTALK, a leading marketing platform for webinars and virtual events in the enterprise IT market.
BrightTALK’s offerings allow marketers to create original webinar and video content and engage 8 million professionals who have registered for the platform. Its solution combines access to decision-makers with a technology platform for creating online events. The acquisition will significantly expand TechTarget’s proprietary first-party purchase intent data and its opt-in audience.BrightTALK Overview:“TechTarget’s leadership position in the market is further strengthened by the acquisition of BrightTALK,” said Michael Cotoia, Chief Executive Officer of TechTarget. “This acquisition checks all the boxes. It allows us to increase our original content, grow our opt-in audience of registered members and add a material amount of proprietary first-party purchase intent data. It’s a very powerful combination that will enhance our customers’ abilities to use our purchase intent data to grow their revenues and increase their market share.”The addition of BrightTALK will allow TechTarget to:“We are excited to join forces with TechTarget. They are the leading provider of original expert content and distributor of vendor decision support content in the B2B tech market, which has allowed them to develop the preeminent first-party purchase intent offering,” said Paul Heald, BrightTALK’s Co-Founder and CEO. “Combining our leading platform for online IT events is a winning combination.”Details about the TransactionThe Boards of Directors of TechTarget and BrightTALK have approved the transaction. The cash purchase price is $150 million, subject to working capital and other adjustments. TechTarget has secured committed financing in the form of a bridge loan from JPMorgan Chase Bank, N.A. to cover the purchase price in combination with cash on hand, and is contemplating options for permanent financing which may include public or private offerings of equity or debt securities or facilities. The Company expects to close the transaction by the end of the year, subject to the satisfaction of customary closing conditions.TechTarget was advised in the transaction by BrightTower, a software, information, and business services-focused investment bank.Updated Q4 2020 Revenue GuidanceToday, TechTarget is also updating its Q4 2020 revenue guidance. We expect that revenues in the 4th quarter will exceed the high end of the previously provided revenue range of $42 to $43 million.About TechTargetTechTarget (Nasdaq: TTGT) is the global leader in purchase intent-driven marketing and sales services that deliver business impact for enterprise technology companies. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies’ information technology needs. By understanding these buyers’ content consumption behaviors, TechTarget creates the purchase intent insights that fuel efficient and effective marketing and sales activities for clients around the world.TechTarget has offices in Boston, London, Munich, Paris, San Francisco, Singapore and Sydney. For more information, visit techtarget.com and follow us on Twitter @TechTarget.
