TechTarget (NASDAQ: TTGT) recently announced that its shareholders have approved a transaction with Informa PLC (LSE: INF.L) to combine Informa Tech’s digital businesses with TechTarget. This move is expected to create a leading global B2B growth accelerator under a new holding company, "New TechTarget." Upon the completion of this transaction, New TechTarget's shares of common stock are anticipated to trade on NASDAQ under the stock ticker symbol "TTGT."
TechTarget is known as the global leader in purchase intent-driven marketing and sales services for enterprise technology companies. The company creates high-quality editorial content across approximately 150 websites and 1,000 webinars and virtual event channels, attracting and nurturing communities of technology buyers researching their companies' information technology needs.
The special meeting of TechTarget's stockholders was held on November 26, 2024, where the shareholders approved the transaction. The parties involved anticipate closing the transaction on December 2, 2024.
TechTarget and its subsidiaries maintain offices in Boston, London, Munich, New York, Paris, Singapore, and Sydney.
Following the completion of this transaction, TechTarget's financial metrics are expected to reflect the impact of the combined operations of Informa Tech's digital businesses and TechTarget. This move aims to position the newly formed entity as a prominent player in the B2B growth acceleration space. Following these announcements, the company's shares moved -0.1%, and are now trading at a price of $32.85. For more information, read the company's full 8-K submission here.
