TechTarget buys KnowledgeStorm for $58M

Share this article:

IT media company TechTarget Inc. has acquired KnowledgeStorm Inc., a search resource for IT professionals, for $58 million.

The price includes $52 million in cash and 359,820 shares of TechTarget's unregistered common stock.

KnowledgeStorm gets 3.5 million visits monthly and has 700 active advertisers.

This news comes in conjunction with the company's high-performing third quarter figures. Total revenues for Q3 increased by 15% to $23.3 million. Its online revenue increased 17% to $14.7M.

"We continue to benefit from advertisers migration to targeted, measurable online media," said Greg Strakosch, chairman and CEO of TechTarget, in a statement. "We are very focused on scaling the business to take advantage of this very large market opportunity in 2008 and beyond."

The company expects the integration of KnowledgeStorm's resources to be completed by the second quarter of 2008.

Share this article:
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

SAP Ramps Up Canadian Cloud Investment

SAP Ramps Up Canadian Cloud Investment

It's one of 16 new data centers the software company will open this year to meet a 39% increase in demand for cloud services.

Top 5 Spending and Investment Insights from Marketers

Top 5 Spending and Investment Insights from Marketers

Confidence in data-driven marketing led marketers to set high Q1 2014 goals.

MeritDirect Introduces Predictive Marketing Suite

MeritDirect Introduces Predictive Marketing Suite

New solutions include next logical product and customer lookalike modeling. The long-time direct marketing player announces it will open a San Jose office in September.