AlphaSense, a leading market intelligence platform, has announced its acquisition of Tegus, a provider of expert research and financial data. This move aims to enhance AlphaSense's capabilities by integrating Tegus' extensive private company data, covering over 35,000 companies across various sectors. The acquisition has been supported by a $650 million funding round, raising AlphaSense's valuation to $4 billion.
Jack Kokko, CEO of AlphaSense, stated that this partnership marks a significant advancement in their mission to empower business and financial professionals with comprehensive insights. Tegus' financial data and research, including high-quality expert coverage and unique tools like the BamSEC securities filings solution, will be integrated into AlphaSense's platform to deliver enhanced market intelligence.
The deal is expected to close in Q3 2024, following a series of milestones for AlphaSense, including a $200 million ARR and substantial revenue growth. Financial and legal advisors for the transaction include Goldman Sachs, DLA Piper LLP, Evercore, and Latham Watkins.
Source: PR Newswire
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