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AlphaSense acquires Tegus for $930 million and raises $650 million in funding, increasing its valuation to $4 billion. This acquisition enhances AlphaSense’s market intelligence capabilities with Tegus’ extensive expert research and financial data offerings. The combined resources will provide users with comprehensive insights and advanced research tools.
Unlocking New Heights: AlphaSense’s Strategic Move
AlphaSense stands out as a premier market intelligence and search platform. Founded in 2011, it has rapidly grown, establishing itself as a trusted resource for over 4,000 enterprise customers, including many S&P 500 companies. With headquarters in New York City and offices worldwide, AlphaSense employs over 1,300 people. Its platform leverages AI to deliver vital insights from a vast universe of public and private content, including equity research, company filings, event transcripts, expert calls, news, trade journals, and clients’ research content.
The Acquisition: AlphaSense Meets Tegus
AlphaSense recently announced its agreement to acquire Tegus, a leading provider of expert research, private company content, and financial data and workflow tools, for $930 million. Tegus, known for its extensive library of high-quality expert research, covers over 35,000 public and private companies across various sectors, including technology, media, telecommunications, consumer goods, energy, and life sciences. The acquisition is set to close in the third quarter of 2024.
Financial Boost: $650 Million Funding Round
AlphaSense has successfully raised $650 million in a funding round co-led by Viking Global Investors and BDT & MSD Partners. This funding also saw participation from J.P. Morgan Growth Equity Partners, SoftBank Vision Fund 2, Blue Owl, Alkeon Capital, and existing investors such as Alphabet’s CapitalG and Goldman Sachs Alternatives. This round brings AlphaSense’s valuation to $4 billion, reinforcing its market position and capacity for future growth.
Expanding Horizons: What Tegus Brings to the Table
Tegus offers an extensive library of expert research, covering over 35,000 public and private companies. Its financial data offerings include comprehensive financials, key performance indicators (KPIs), and fully drivable models on more than 4,000 public companies. Tegus also provides BamSEC, a self-serve solution for searching and accessing securities filings.
Enhancing AlphaSense’s Capabilities
By integrating Tegus’ content and tools with AlphaSense’s advanced AI and search technology, users will benefit from more comprehensive insights and the ability to extract proprietary data easily. This combination will enhance the research capabilities of business and financial professionals, allowing them to make better-informed decisions with greater confidence and speed.
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Driving Innovation: AlphaSense’s Vision for the Future
Jack Kokko, CEO and Founder of AlphaSense, expressed enthusiasm about the acquisition, noting that it marks a pivotal moment for the company. Michael Elnick, Co-Founder and Co-CEO at Tegus, shared similar sentiments, highlighting the shared vision and the potential to empower clients in new ways.
AlphaSense has achieved significant milestones recently, including being named to the 2024 CNBC Disruptor 50 list and exceeding $200 million in annual recurring revenue (ARR). The company has also opened a new hub in Singapore to fuel its expansion in the APAC region.
Implications for the Market Intelligence Landscape
The acquisition of Tegus by AlphaSense is expected to significantly impact the market intelligence industry. The combined capabilities of both companies will provide a competitive edge, offering users unparalleled access to data and insights. This merger will enable AlphaSense to deliver even more comprehensive research tools and content, further solidifying its leadership in the industry.
Customer Benefits
Customers of AlphaSense will benefit from enhanced data access and improved research capabilities. The integration of Tegus’ offerings will provide more robust and detailed insights, allowing users to conduct more thorough analyses and make better-informed decisions. This merger will streamline the research process, making it easier for clients to find critical information quickly and efficiently.
AlphaSense and Tegus – A New Era in Market Intelligence
The acquisition of Tegus by AlphaSense represents a significant milestone in the market intelligence sector. The combined strengths of both companies will lead to unprecedented growth and innovation, providing users with comprehensive insights and advanced research tools. This strategic move sets a new standard for market intelligence, ensuring that AlphaSense remains at the forefront of the industry.
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