Brief: TechTarget To Expand Scale And Leadership Position In B2B Data And Market Access Through Strategic Combination With Informa Tech’s Digital Businesses

TechTarget

10/01/2024 23:13

Jan 10 (Reuters) - Informa PLC  INF.L :
    * TECHTARGET TO EXPAND SCALE AND LEADERSHIP POSITION IN B2B
DATA
AND MARKET ACCESS THROUGH STRATEGIC COMBINATION WITH INFORMA
TECH’S DIGITAL BUSINESSES
    * TECHTARGET INC - TECHTARGET SHAREHOLDERS TO RECEIVE
APPROXIMATELY $11.79 PER SHARE IN CASH AND RETAIN A 43% STAKE IN
NEW TECHTARGET IN DEAL
    * TECHTARGET INC - INFORMA PLC TO CONTRIBUTE INFORMA TECH'S
DIGITAL BUSINESSES AND $350 MILLION OF CASH IN EXCHANGE FOR 57%
STAKE IN NEW TECHTARGET
    * TECHTARGET INC - EXPECTS TO REPORT REVENUE OF
APPROXIMATELY $230
MILLION AND ADJUSTED EBITDA OF APPROXIMATELY $70 MILLION FOR
YEAR ENDED DECEMBER 31, 2023
    * TECHTARGET INC - INFORMA TECH ASSETS BEING CONTRIBUTED
EXPECTED
TO GENERATE 2024 REVENUE OF ABOUT $275 MILLION AND ADJUSTED
EBITDA OF ABOUT $50 MILLION
    * TECHTARGET INC - NEW TECHTARGET'S OPERATING PLAN FORECASTS
DOUBLE-DIGIT ORGANIC REVENUE GROWTH, MORE THAN 50% REVENUE UNDER
LONG-TERM CONTRACTS
    * TECHTARGET INC - NEW TECHTARGET FORECASTS $45 MILLION IN
TOTAL
ANNUAL EBITDA SYNERGIES WITHIN THREE YEARS OF DEAL CLOSING
    * TECHTARGET INC - GARY NUGENT, CURRENT CEO OF INFORMA TECH,
WILL
RELOCATE FROM LONDON TO NEWTON AND SERVE AS CEO OF NEW
TECHTARGET
    * TECHTARGET INC - MICHAEL COTOIA, CURRENT CEO OF CO, TO BE
SPECIAL ADVISOR TO CEO, FOCUSED PRIMARILY ON ENSURING A SMOOTH
COMBINATION POST-CLOSING

Source text for Eikon:  ID:nBw4GZcrPa 
Further company coverage:  INF.L 

 ((Reuters.Briefs@thomsonreuters.com;))