TechTarget acquires Bitpipe for $40 million.Combining the strengths of two of the fastest-growing information technology companies, TechTarget Inc. this month acquired Boston-based Bitpipe Inc. for $40 million in cash. Since Bitpipe is the #1 distributor of IT white papers, as a result of the acquisition, TechTarget now owns a majority share of the market for the distribution of IT white papers and other vendor-supplied content--serving a larger number of IT professionals and executives, and generating more revenue from that activity, than all other IT publishers combined. The Jordon, Edmiston Group represented Bitpipe in the deal. The 1998-founded Bitpipe pioneered the use of vendor-supplied content to drive high-performance Adj. 1. high-performance - modified to give superior performance; "a high-performance car" superior - of high or superior quality or performance; "superior wisdom derived from experience"; "superior math students" marketing campaigns for IT companies. A profitable company, Bitpipe's revenues grew 75 percent in 2003 and increased more than 50 percent again in 2004. Bitpipe CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and co-founder Jay Habegger, who has joined TechTarget as executive vice president, media products, said, "When IT professionals are researching products for purchase consideration, they have historically turned to two sources, Bitpipe and TechTarget. The union of these two IT media companies now creates a stronger entity that offers advertisers a level of exposure and ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). unavailable anywhere else. "TechTarget can now offer IT marketers additional advertising products that take full advantage of the broad reach enabled by Bitpipe's extensive distribution network and the access to targeted communities of IT buyers that TechTarget provides," Habegger said. TechTarget CEO Greg GREG Great Egg Harbor National Scenic and Recreational River (US National Park Service) Strakosch said, "Like TechTarget, Bitpipe has built a booming business and disrupted dis·rupt tr.v. dis·rupt·ed, dis·rupt·ing, dis·rupts 1. To throw into confusion or disorder: Protesters disrupted the candidate's speech. 2. the IT landscape by taking advantage of the enormous shift from traditional to online media. Now, with the acquisition of Bitpipe, TechTarget is positioned to accelerate its growth and generate more than $80 million in revenue next year." TechTarget was launched by United Communications Group in 1999, fully funding an idea that Greg Strakosch had while working with UCG's technology division. UCG UCG United Church of God UCG Underground Coal Gasification UCG University College Galway UCG Unified Communications Group (Microsoft) UCG Universal Command Guide for Operating Systems (Guy Lotgering book) subsequently spun out TechTarget, but UCG remains a significant stakeholder stakeholder n. a person having in his/her possession (holding) money or property in which he/she has no interest, right or title, awaiting the outcome of a dispute between two or more claimants to the money or property. and UCG founding partner Bruce Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. Levenson still sits on TechTarget's board. The Wall Street Journal (see accompanying article) reports that Strakosch isn't ruling out an initial public offering in 2005. "We've got every investment bank on Wall Street calling on us," he said. TechTarget, 117 Kendrick St., Needham, MA 02494, 781-657-1000, www.techtarget.com |
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