TheStreet Acquires The Deal for $5.8 Million [M&A News]

TheStreet, Inc. (TST) today announced that it has acquired The Deal, LLCĀ  for $5.8 million. Both sites offer subscriptions to premium content, and will continue to do so after the acquisition.Founded in 1999 as The Daily Deal print newspaper, The Deal LLC transformed its business into a digital subscription platform that delivers coverage of “the deal economy” primarily through The Deal Pipeline, which provides transactional information and services.The acquisition will help TheStreet grow its subscription revenues, which CEO Elisabeth DeMarse said in a press release was “the most profitable portion” of the business.After the acquisition, TheStreet’s newsroom content will be incorporated into The Deal Pipeline to accelerate sales to hedge funds. In addition, TheStreet’s Chat-on-the-Street product will sold by The Deal’s enterprise sales force, The Deal Pipeline will be marketed across the entire network of The Street, and The Deal’s content – including Webinars – will be offered to TheStreet’s customers.A earlier version of this story incorrectly stated that TheStreet purchased The Deal for $5.5 million. The correct figure is $5.8 million.

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