TechTarget rises on Informa merger deal

TechTarget

10/01/2024 23:04

** Shares of U.S.-based data and analytics software
solutions provider TechTarget  TTGT.O  up 14.9% at $40.93 in
trading after the bell
    ** Co to merge with Informa's  INF.L  digital business to
form New TechTarget
    ** INF to contribute $350 mln and digital businesses for 57%
stake in the combined company
    ** TTGT shareholders to receive $350 mln, or $11.79 per TTGT
share, and will have 43% stake in the combined company
    ** CEO of Informa Tech, Gary Nugent, to be CEO of New
TechTarget, current TTGT CEO Michael Cotoia to serve as special
advisor
    ** Combined co to trade under ticker TTGT on NASDAQ
    ** TTGT fell 20.9% in 2023

 (Reporting by Kabir Dweit)
 ((Kabir.Dweit@thomsonreuters.com))