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TheStreet Open House

TheStreet.com's CEO Discusses Acquisition Of The Deal Conference Call (Transcript)

We’ve been looking for ways to leverage our expertise particularly in subscription businesses. This acquisition jumpstarts our efforts by expanding our institutional investor offerings. While we started to dip our toe into the institutional market over the past year, with the acquisition of The Deal we will immerse ourselves in this market.

The Deal is a natural extension of the most successful portion of our business, Subscription Services. The Deal’s marquee customer base of 40,000 professionals, including senior-level bankers, law firm partners, private equity partners and hedge fund notables who provides with higher renewable rates, predictable revenues and attractive margins.

We believe we are in a deep cyclical trough for the M&A business, with M&A volume hitting multi-year lows this year. The stock market recently hit multi-year highs, and when the stock market goes up M&A activity is sure to file it. We are looking for a wave of M&A to increase revenues for The Deal, and make this an extremely profitable acquisition for TheStreet.

Even in the meantime, as M&A activity is still slow to come back, this acquisition is still immediately accretive. We intend to leverage the content-creation and marketing resources of The Deal and TheStreet with a specific focus on the time sensitive information associated with change of control transactions such as restructurings, auctions, and other mergers and acquisition activity; to create new revenue opportunities for the combined company at minimal incremental costs.

Specifically, we plan to incorporate TheStreet’s buy-side newsroom content into The Deal pipelines dataset in order to accelerate sales to hedge funds. We will add our Chat-on-the-Street product to the product sold by The Deal pipelines enterprise sales force. We will market The Deal Pipeline across the entire network of TheStreet, creating a substantial increase in qualified leads for The Deal pipeline and we will offer content-rich marketing opportunities such as webinars to current customers of TheStreet.

Read the rest of this transcript for free on seekingalpha.com

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