Sprout Social, Inc. acquired Tagger Media, Inc. for approximately $140 million.
August 02, 2023
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Sprout Social, Inc. (NasdaqCM:SPT) acquired Tagger Media, Inc. for approximately $140 million on August 2, 2023. The transaction was approved by the board of director and shareholders of both buyer and seller. Edward V. Wilson of Husch Blackwell LLP acted as legal advisor to Tagger Media, Inc. and Erin Kirchner of Cooley LLP acted as legal advisor to Sprout Social, Inc. Citi acted as financial advisor to Sprout Social, Inc.
Sprout Social, Inc. (NasdaqCM:SPT) completed the acquisition of Tagger Media, Inc. on August 2, 2023. On August 1, 2023, the Company borrowed $75 million under the Credit Agreement in connection with the acquisition.
Sprout Social, Inc. is engaged in designing, developing, and operating a Web-based social media management tool enabling companies to manage and measure their online presence. The Company provides organizations with a centralized platform to manage their social media efforts across stakeholders and business functions. Its cloud software brings together social messaging, data, and workflows in a unified system of record, intelligence, and action. The Company operates across major networks, including X (formerly known as Twitter), Facebook, Instagram, TikTok, Pinterest, LinkedIn, Google, Reddit, Glassdoor and YouTube, and commerce platforms Facebook Shops, Shopify, and WooCommerce. Its cloud platform allows organizations of all sizes to create stronger relationships through social media, create and publish effective content, measure, and improve performance, and better understand their markets and customers. It also offers a 30-day free trial model to its prospective customers.
SPROUT SOCIAL, INC. 
