AlphaSense Acquires Tegus for $930 Million
Acquisition Details:
- Acquisition Value: $930 million.
- Expected Closure: Q3 2024.
- Key Assets Acquired: Tegus’ research platform, financial data, and workflow tools.
- Strategic Benefit: Adds a breadth of private company data to AlphaSense’s AI-powered platform.
CEO Statement:
- Jack Kokko, CEO of AlphaSense: Describes the acquisition as a “significant leap forward” in enhancing their mission to add top-quality content on public and private companies.
Tegus Overview:
- Founded: 2017.
- Claim: The industry’s largest and most comprehensive database of primary and market information, covering over 35,000 public and private companies across various sectors.
User Base Impact:
- Combined User Benefits: Enhanced ability to extract proprietary insights through the integration of Tegus’ extensive database with AlphaSense’s AI and search capabilities.
AlphaSense Valuation and Funding
New Funding Round:
- Amount Raised: $650 million.
- New Valuation: $4 billion.
- Co-Led By: BDT & MSD Partners and Viking Global Investors.
- Participants: Existing investors (Goldman Sachs Alternatives, Alphabet’s CapitalG) and new investors (Alkeon Capital, Blue Owl, JP Morgan Growth Equity Partners, SoftBank Vision Fund 2).
Previous Funding Round:
- Series E: $150 million was raised in September.
Summary
AlphaSense’s acquisition of Tegus for $930 million will enhance its market intelligence platform with Tegus’ extensive database and research tools. The acquisition is expected to close in Q3 2024 and aims to provide deeper insights into public and private companies. Additionally, AlphaSense’s valuation has soared to $4 billion following a new $650 million funding round, underscoring the company’s growth and investor confidence.
