AlphaSense Set To Acquire Tegus As Valuation Hits $4 Billion

In a highly competitive business world, it’s vital for businesses to know what their competitors are up to as well as what opportunities are available in the market.

This is why they turn to market intelligence, which helps them gather and analyze information on market trends, competitors and customers, allowing them to take advantage of opportunities and make smarter business and strategic decisions, while gaining a competitive advantage.

This is where AlphaSense comes in.

This leading market intelligence and search platform, which boasts customers such as SAP, 3M, Google and others spanning a majority of the S&P 500, has spent over a decade transforming the research process by infusing artificial intelligence (AI) technology and building high-quality business content.

Now, as the company looks to further enhance its business decision-making enablement, it made an announcement with Tegus, an end-to-end research platform that combines expert insights, company filings, KPIs and financial data.

So, what did the two companies reveal? Let’s explore!

What Did AlphaSense And Tegus Announce?

Through a blog post and press release published by AlphaSense and Tegus respectively, the two companies announced they entered into an agreement where AlphaSense would acquire Tegus for $930 million.
The move comes as AlphaSense raises $650 million in a funding round that saw it increase its latest valuation to $4 billion.
The funding round was co-led by Viking Global Investors and BDT & MSD Partners and featured new investors, J.P. Morgan Growth Equity Partners, SoftBank Vision Fund 2, Blue Owl and Alkeon Capital, along with existing investors Alphabet’s CapitalG and Goldman Sachs Alternatives.
The deal will see the infusion of Tegus’ private company data to AlphaSense’s platform, offering its customers, who consist of businesses and financial professionals, with the ability to make smarter decisions using AI-driven market intelligence.
This also brings Tegus’ “extensive and fast-growing library of high-quality expert research”, which includes information on over 35,000 public and private companies covering TMT (technology, media and telecommunications), consumer goods, energy and life sciences sectors.
Adding to this, AlphaSense will also gain data from Tegus’ financial data offering of financials, KPIs and fully drivable models on more than 4,000 public companies, as well as Tegus’ BamSEC self-serve solution for SEC filings and earnings transcripts.
As per the release, “Together, AlphaSense and Tegus will accelerate growth, innovation, and content expansion, bringing their complementary product and content capabilities together to enable users to unearth even more comprehensive insights from thousands of content sets.”
The transaction is expected to close in Q3 2024.
The move comes as AlphaSense celebrates recent milestones, which includes doubling its revenue in less than two years, opening a new hub in Singapore and more.

Source

What Did Stakeholders Say?

Jack Kokko, CEO and Founder at AlphaSense, said, “This transaction marks a pivotal moment for AlphaSense in our mission to help businesses and investors make better decisions with confidence and speed.”
“I am thrilled to join forces with the Tegus team as a significant leap forward in furthering our mission, adding top-quality content on public and private companies, and enhancing our ability to deliver even more comprehensive insights to our customers around the world.”
Michael Elnick, Co-Founder and Co-CEO at Tegus, said, “This is a significant moment for Tegus. For nearly a decade we’ve worked to transform how companies and investors conduct research. By joining forces with AlphaSense, we’re going to empower clients in new and more powerful ways.”
[Contd.] “AlphaSense and Tegus are like-minded companies, with a shared vision, and I couldn’t be more excited to continue pursuing our mission of modernizing research for businesses, together.”

Do you think this move by AlphaSense will help it grow its customer base and capture a strong position in the market intelligence market? Do you think the company’s competitors should make similar moves?

Let us know in the comments below!

First published on Wed, Jun 12, 2024

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Enterprise Solutions Data Management Content Management Financial Management AlphaSense Tegus Acquisition Funding Round Market Intelligence Search Platform

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