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TechTarget Buys Bitpipe for $40 Mil.

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BOSTON Information technology media company TechTarget today said it has acquired Bitpipe, an online distributor of white papers, Webcasts and other services, in a $40 million cash deal. Both companies are privately held.

Bitpipe co-founder and CEO Jay Habegger has joined TechTarget as evp, media products.

TechTarget's acquisition of Bitpipe is designed to expand its reach among IT buyers and enhances TechTarget's ability to generate results for its advertisers, the company said.

The deal combines the market strengths of two fast-growing IT media companies "to create a powerhouse in IT publishing and advertising," said TechTarget CEO Greg Strakosch, in a statement. "Bitpipe has built a booming business and disrupted the IT media landscape by taking advantage of the enormous shift from traditional to online media."

"TechTarget can now offer IT marketers additional advertising products that take advantage of the broad reach enabled by Bitpipe's extensive distribution network and the access to targeted communities of IT buyers that TechTarget provides," Habegger said.

TechTarget is in Needham, Mass.; Bitpipe is located in Boston.