AlphaSense, a leader in market intelligence and search platforms, announced an agreement to acquire Tegus, a prominent provider of expert research and financial data tools. This acquisition aimed to enhance AlphaSense's platform with Tegus' extensive private company data, supporting the companies' joint mission to empower financial professionals with AI-driven market intelligence.

The transaction included AlphaSense raising $858 million (US$650 million in funding), co-led by Viking Global Investors and BDT & MSD Partners. New investors such as J.P. Morgan Growth Equity Partners, SoftBank Vision Fund 2, Blue Owl, and Alkeon Capital, alongside existing investors Alphabet's CapitalG and Goldman Sachs Alternatives, participated in the funding round, bringing AlphaSense's valuation to $5.28billion (US$4 billion).

Jack Kokko, CEO and Founder of AlphaSense, expressed enthusiasm about the merger, highlighting the added value of Tegus' top-quality content on public and private companies. Tegus' offerings include an extensive library of research covering over 35,000 companies and detailed financial data on more than 4,000 public companies.

Michael Elnick, Co-Founder and Co-CEO of Tegus, emphasized the shared vision and mission of both companies to modernize research processes for businesses.

Goldman Sachs & Co. LLC served as AlphaSense's financial advisor, with DLA Piper LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal advisors. Evercore acted as Tegus' lead financial advisor, supported by Latham Watkins and Morgan Stanley. The transaction was anticipated to close in Q3 2024.