This one slipped under my radar late last week. TechTarget announced the acquisition of KnowledgeStorm in a $58 million deal that combines the two leaders in IT lead generation.
TechTarget has been the leader in the market, with Q3 revenues of $23 million. According to the press release, they expect KnowledgeStorm to add revenues of $12-14 million in the 12 months following integration. TechTarget had previously acquired KnowledgeStorm competitor BitPipe, so they now have a solid lock on the IT white paper and lead gen market.
KnowledgeStorm had initially put itself on the block in November, 2006, when CEO Kelly Gay indicated that the company had achieved a $20 million run-rate and was a sustainable business, at the time stating "We are at that point. We've proven we can do it."
Congratulations to Kelly and the KnowledgeStorm team on the growth and successful outcome for the Company.
