MARKET intelligence and search platform AlphaSense will acquire Tegus, a primary research platform for institutional investors, for US$930 million.
The acquisition is expected to introduce Tegus’ breadth of private company and financial data to AlphaSense’s artificial intelligence and search capabilities, it announced on Tuesday (Jun 11).
Tegus provides a library of expert research, which includes coverage of more than 35,000 public and private companies across the consumer goods, energy, life sciences, technology, media and telecommunications sectors.
It also offers financial data, which includes fully drivable models on more than 4,000 public companies.
AlphaSense raised US$650 million in funding, which will take the company’s valuation to US$4 billion.
The deal was co-led by Viking Global Investors and BDT & MSD Partners, along with existing investors Alphabet’s CapitalG and Goldman Sachs Alternatives. JP Morgan Growth Equity Partners, SoftBank Vision Fund 2, Blue Owl and Alkeon Capital came onboard as new investors.
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The transaction and financing is expected to close in the third quarter of 2024.
Jack Kokko, chief executive and founder of 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.”
In August 2023, the market intelligence platform announced a new regional office in Singapore as part of its expansion plans in the Asia-Pacific region.
The investing arm of Singapore’s Economic Development Board made an undisclosed strategic investment in AlphaSense in January 2024.
