Tegus, the leading provider of primary business and market intelligence, today announced it has signed a definitive agreement to acquire BamSEC, a platform that makes it easy to access and work with SEC filings and earnings transcripts.
BamSEC's products enable customers to conveniently search, access, manipulate, and pull financial data from any SEC filings and to browse and read any public company earnings call transcripts. BamSEC enables efficient collaboration across teams with its linking, highlighting, and referencing toolkit. More than 100,000 investors and bankers across hundreds of financial institutions use BamSEC each month to help streamline their research.
"BamSEC has harnessed the combined power of high-quality data and best-in-class software to build a product that is beloved by customers. When we ask Tegus users which other product they use and love, BamSEC is at the very top of the list," said Thomas Elnick, co-CEO and co-founder of Tegus. "We are thrilled to join together with Stan, Luyi, and the entire BamSEC team as we drive toward our vision of building the preeminent market and business intelligence platform for key decision makers."
"We are super excited to join Tegus and bring our shared vision for the next generation financial research platform to reality. The combination of Tegus and BamSEC will enable our customers to take their research to the next level by leveraging Tegus' unmatched qualitative insights alongside BamSEC's tools and quantitative data," said Stan Mishchenko, CEO and co-founder of BamSEC.
Tegus' acquisition of BamSEC represents both an entry into new data offerings and complementary enhancements to Tegus' existing business. First, BamSEC's data sets of SEC filings, earnings calls, and management presentations unlock a new set of offerings for Tegus – data that, before today, customers were forced to access elsewhere. Second, the combination of Tegus and BamSEC provides the opportunity to deliver enhanced product features and collaboration tools to our customers – many of whom already subscribe to both Tegus and BamSEC. Finally, the acquisition will enable Tegus to work more closely with investment banks, where BamSEC has strong customer relationships, which will help to drive growth in Tegus' core business.
"The combination of Tegus and BamSEC will accelerate the expansion of our financial research offering, expanding our total addressable market and accelerating our long-term revenue growth trajectory," said Mike Elnick, co-CEO and co-founder of Tegus.
The transaction is expected to close in November. Once closed, the combination of Tegus and BamSEC is expected to provide significant benefits to customers of both companies.