April 22, 2013
(NASDAQ: TST), a leading digital financial media company, today announced that it has completed the acquisition of
The DealFlow Report, The Life Settlements Report
and the PrivateRaise database from
DealFlow Media, Inc
. These newsletters and databases, and the employees providing their content, will be incorporated into TheStreet's institutional platform,
"These specialty newsletters and databases offer accurate and reliable intelligence that is well respected in the finance community," says The Deal's President,
. "The Deal Pipeline already provides subscribers with world-class coverage of large and mid-cap M&A transactions, and we are excited to add small cap finance transactions to our news coverage and transaction database."
Following integration of these properties into The Deal Pipeline, current customers of The Deal Pipeline will have access to hard-to-find small cap equity markets coverage and coverage of the private placement markets, which is gaining momentum due to the new regulations spawned by the JOBS Act. Starting today, customers of The DealFlow Report, The Life Settlements Report and/or PrivateRaise database will be able to receive The Deal Pipeline's rich, intraday coverage of transactions.
The acquisition is part of the continuing M&A strategy led by
, TheStreet's Chairman, President and CEO. "TheStreet's institutional business unit, The Deal, is an important part of our growth strategy. This tuck-in acquisition of The DealFlow Report, The Life Settlements Report and the PrivateRaise database emphasizes our continued commitment to providing institutional clients with valuable and actionable intelligence they can use to grow their businesses. Additionally, this acquisition expands TheStreet's revenue opportunities as we introduce potential customers to The Deal's quality research and reporting," concluded DeMarse.
The DealFlow and The Life Settlements Conferences will continue to be operated by DealFlow Media, Inc. under a license from The Deal, and
, founder and CEO of the DealFlow businesses, will assist The Deal in the transition pursuant to a consulting arrangement.
Said Steven Dresner
, "I am thrilled to combine the DealFlow businesses with The Deal Pipeline to create a best-of-breed service for our customers. The combination of our leading small cap finance content with The Deal's M&A reporting is a natural fit."
Founded in 2002,
The DealFlow Report
The Life Settlements Report
, and the PrivateRaise database, cover small cap equity finance and niche areas of finance.
Report is a leading subscription service covering small cap equity finance, including everything from IPOs to APOs, registered directs to follow-ons, PIPEs, at-the-market offerings, CMPOs, SPACs, and all of the trading, legal, and regulatory issues in the small cap market.
The Life Settlements Report
provides news and analysis on the growing secondary market for life insurance settlements. The PrivateRaise database provides users with a comprehensive decade-long history of small cap equity transactions, including private placements, PIPEs, Rule 144A offerings, alternative public offerings, reverse mergers and shell merger vehicles, warrants and options, at-the-market offerings, venture capital financings, confidentially marketed public offerings, shelf filings, special purpose acquisition companies and life settlements. Customers of these products include several hundred investment managers, investments banks, hedge funds, public and private corporations and law firms.
Terms of the acquisition were not disclosed and the financial impact to TheStreet is not expected to be material.