TTGT - TechTarget to acquire BrightTALK for $150M

TechTarget (TTGT) +1.4% PM, inked a definitive agreement to acquire BrightTALK, a leading marketing platform for webinars and virtual events in the enterprise IT market, expanding its proprietary first-party purchase intent data and its opt-in audience.Acquisition's cash purchase price is $150M for which TechTarget has secured committed financing in the form of a bridge loan from JPMorgan Chase and will utilize cash on hand.Transaction is expected to close by the end of the year.BrightTALK's offerings allow marketers to create original webinar and video content and engage 8M professionals who have registered for the platform; YTD, the company reported 1M new registered members.BrightTALK's estimated 2020 revenue stands at ~$50M with 30% estimated growth; ~50% of revenue under long-term contracts.TechTarget's Q4 revenue guidance is updated with revenues exceeding the high end of the previously provided revenue range of $42 to $43M.Industry research indicates that the majority of marketers expect virtual events to be the

For further details see:

TechTarget to acquire BrightTALK for $150M