AlphaSense, based in New York, provides a platform that asset management firms use to identify investment opportunities by delivering news articles, earnings reports, transcripts, financial research, and other data. Tegus has an extensive library of expert research and financial data on more than 4,000 public companies, which will be used to enhance AlphaSense’s offerings. The deal is expected to close in the third quarter of 2024.
Key takeaways:
- AlphaSense Inc. has raised $650 million in funding, increasing its valuation to $4 billion, and has agreed to acquire rival firm Tegus Ltd. in a deal valued at $930 million.
- The funding round was co-led by Viking Global Investors and BDT & MSD Partners, with participation from new investors including J.P. Morgan Growth Equity Partners and SoftBank Vision Fund 2.
- AlphaSense provides a platform for market intelligence that asset management firms use to identify investment opportunities, and Tegus has an extensive library of high-quality expert research and financial data on public and private companies.
- The acquisition of Tegus will help AlphaSense compete against other industry giants that provide clients with news and reports, such as Bloomberg L.P., Exabel AS and FactSet.