TheStreet Acquires The DealFlow Report, The Life Settlements Report and
Continues expansion of subscription services for institutional customers
NEW YORK, April 22, 2013
NEW YORK, April 22, 2013 /PRNewswire/ --TheStreet, Inc. (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, The Deal.
"These specialty newsletters and databases offer accurate and reliable
intelligence that is well respected in the finance community," says The Deal's
President, Kevin Worth. "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
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 Elisabeth
DeMarse, 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 Steven Dresner,
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 and The Life Settlements Report, and the
PrivateRaise database, cover small cap equity finance and niche areas of
finance. The DealFlow 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.
TheStreet, Inc. (www.t.st) is the leading digital financial media company
serving up business and financial news, data and analysis to personal and
institutional investors worldwide. The Company's portfolio of business and
personal finance brands includes: TheStreet, RealMoney, RealMoney Pro,
Stockpickr, Action Alerts PLUS, Options Profits, MainStreet and Rate-Watch. To
learn more, visit www.thestreet.com. The Deal, the Company's institutional
business, provides intraday coverage of mergers and acquisitions and all other
changes in corporate control. To learn more, visit www.thedeal.com.
The TheStreet, Inc. logo is available at:
This press release contains forward-looking statements related to TheStreet,
the assets acquired from DealFlow Media and the potential benefits of the
acquisition. Actual events or results may differ materially from those
contained in the forward-looking statements due to risks, uncertainties and
assumptions. These risks and uncertainties include, but are not limited to,
risks associated with: our ability to successfully integrate these properties
and their technology and personnel; execution of our plans and strategies,
including with respect to expansion of our institutional platform; demand for
these newsletters and databases; and other important factors that could cause
results of the acquisition and related transactions to differ materially from
those contained in the forward-looking statements described in the documents
TheStreet files from time to time with the SEC, including TheStreet's most
recent Form 10-K, as well as future SEC filings. All forward-looking
statements contained herein are made as of the date of this press release.
Although the Company believes that the expectations reflected in the
forward-looking statements are reasonable, the Company cannot guarantee future
results or occurrences. The Company disclaims any obligation to update these
forward-looking statements, whether as a result of new information, future
developments or otherwise.
Chief Financial Officer
Sapphire Investor Relations, LLC
SOURCE TheStreet, Inc.
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