AlphaSense, a financial data and analytics provider, has acquired its competitor Tegus for $930 million in cash and stock. The deal, which is expected to close in the fourth quarter of 2023, will create a combined company valued at over $4 billion.
Benefits of the Acquisition
- The acquisition will expand AlphaSense’s product portfolio and customer base.
- Tegus’s proprietary data and research capabilities will complement AlphaSense’s existing offerings.
- The combined company will have a team of over 1,000 employees and serve over 3,000 clients globally.
Market Impact
The acquisition is expected to have a significant impact on the financial data and analytics market. The combined company will be the largest provider of financial data and analytics in North America, and one of the largest globally. The deal is also likely to spur consolidation in the industry, as other companies look to compete with the combined AlphaSense-Tegus.
Executive Quotes
We are thrilled to welcome Tegus to the AlphaSense family, said AlphaSense CEO Jack Kokko. This acquisition will accelerate our growth and enable us to provide our clients with an even more comprehensive suite of financial data and analytics solutions.
We believe that together with AlphaSense, we can create a truly transformative company that will redefine the way professionals access and use financial information, said Tegus CEO Krish Ramineni.
Kind regards N. Bauer.
