TechTarget Follows February IPO with Two Acquisitions
TechTarget, Inc., the information technology media company that generated $70 million in revenues last year, has announced it acquired TechnologyGuide.com, a company with a portfolio of technology product Web sites, on April 26, 2007. TechTarget paid approximately $15 million for the company.
The Needham, Massachusetts-based company also acquired Ajaxian, Inc., a Web site and conference serving developers for Ajax, a Web development technique for creating Web applications. TechTarget purchased the company on February 27, 2007 for approximately $1 million, right before it filed its initial public offering in early February.
"TechGuide and Ajaxian are good fits for our portfolio because both our audience and advertisers are very interested in the topics covered on these Web sites, which are leaders in their respective spaces," says CEO Greg Strakosch. "We recently went public and have approximately $100 million cash on our balance sheet. We stated that acquisitions would be one of the uses of this cash. We are always looking for good properties to acquire, especially online assets."
TechnologyGuide.com sites include NotebookReview.com, Birghthand.com and TabletPCReview.com. These sites will continue to grow as separate entities along with Ajaxian.com and the remainder of TechTarget’s existing network of media targeting the IT industry.
The Jordan, Edmiston Group handled the TechnologyGuide transaction.