THE $930 million The acquisition will provide customers with a comprehensive combined offering of public and private content, strengthening AlphaSense’s leadership in market intelligence.
NEW YORK, June 11, 2024 /PRNewswire/ — AlphaSensethe leading business information and research platform, today announced an agreement to acquire Act, a leading provider of expert research, unique private company content, and financial data and workflow tools. This transaction will bring Tegus’ breadth of private company data to the AlphaSense platform, furthering the companies’ shared mission of enabling business and financial professionals to make smarter decisions with market intelligence. based on AI. As part of this agreement, AlphaSense raised $650 million in financing, co-led by Viking Global Investors and BDT & MSD Partners, and joined by new investors JP Morgan Growth Equity Partners, SoftBank Vision Fund 2, Blue Owl, Alkeon Capital, as well as existing investors Alphabet’s CapitalG and Goldman Sachs Alternatives. This increase brings the valuation of AlphaSense to 4 billion dollars.
“This transaction marks a pivotal moment for AlphaSense in our mission to help businesses and investors make better decisions with confidence and speed,” said Jack Koko, CEO and founder of AlphaSense. “I am excited to join forces with the Tegus team, which is a significant step forward in furthering our mission, adding premium content on public and private companies and enhancing our ability to provide even more comprehensive information to our customers around the world.
Today, Tegus has an extensive and rapidly growing library of high-quality expert research, covering more than 35,000 public and private companies in the TMT, consumer goods, energy and life sciences. Additionally, Tegus’ financial data offering, which includes fully controllable financial data, KPIs and models on over 4,000 public companies, as well as its BamSEC self-service solution for searching and accessing filings on titles, adds unique new offerings to AlphaSense’s extensive product. suite and datasets. Users will benefit from adding this content with AlphaSense’s market-leading AI and search capabilities, allowing its combined user base to continue to easily extract exclusive insights.
Michael Elnickco-founder and co-CEO of Tegus, said: “This is an important moment for Tegus. For nearly a decade, we’ve worked to transform the way companies and investors conduct research. By joining forces with AlphaSense, we will empower customers in new and more powerful ways. AlphaSense and Tegus are like-minded companies with a shared vision, and I couldn’t be more excited to continue our mission of modernizing search for business together.
For over a decade, AlphaSense has been transforming the search process with the latest innovations in AI technology, while growing its extensive collection of premium, trusted business content. Together, AlphaSense and Tegus will accelerate content growth, innovation and expansion, bringing together their complementary product and content capabilities to enable users to discover even more comprehensive insights from thousands of data sets. content.
This agreement follows a series of recent milestones for AlphaSense, including named to CNBC Disruptor 50 2024 list, exceeding 200 million dollars in AR and doubling its income in less than two years, the opening of a new Singapore hub to fuel expansion in the APAC region, a 100 million dollars Series D investment led by Alphabet’s CapitalG, and the closing of a $150 million Series E funding round led by BOND.
The transaction is expected to close in the third quarter of 2024. Goldman Sachs & Co. LLC is serving as financial advisor to AlphaSense, and DLA Piper LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal advisors to AlphaSense . Evercore acts as principal financial advisor to Tegus and Latham Watkins acts as legal advisor to Tegus. Morgan Stanley also acted as financial advisor to Tegus.
About AlphaSense
The world’s most sophisticated companies rely on AlphaSense to remove uncertainty from decision-making. With market intelligence and research powered by proven AI, AlphaSense delivers important insights from content you can trust. Our universe of public and private content includes equity research, company filings, event transcripts, expert calls, news, trade journals and client research content. Our platform is trusted by more than 4,000 corporate clients, including a majority of the S&P 500.
Founded in 2011, AlphaSense is headquartered in New York City with more than 1,300 people around the world and offices in the United States, United Kingdom, Finland, IndiaAnd Singapore. For more information, please visit www.alpha-sense.com.
About Tégus
Tegus is an end-to-end research platform that seamlessly combines expert insights, company records and KPIs and comprehensive financial data, enabling investors to quickly find critical information, easily create comparables and update models, and develop powerful insights to inform their investment decisions. Tegus’ proprietary content set now includes more than 100,000 expert call transcripts, financial coverage of more than 4,000 public companies, and industry insights and insights on more than 50 sectors. Tegus acquired BamSEC and then Canalyst, integrating two beloved investment research tools into the Tegus platform to combine powerful quantitative and qualitative data in a single suite.
Founded in 2016, Tegus is headquartered in Chicago, IL and employs more than 550 team members around the world, including in its offices Vancouver, British Columbia And Waterford, Ireland. For more information, please visit www.tegus.com.
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