Online survey Web site SurveyMonkey announced late Wednesday that it has partnered with an affiliate of private equity giant TPG Capital to acquire San Francisco-based research software rival MarketTools.
The complex transaction calls for the TPG affiliate to acquire MarketTools and then merge its operations into SurveyMonkey in exchange for a minority stake in the combined company. Financial terms were not disclosed, but TPG’s investment in SurveyMonkey values the company at about $1 billion, according to The New York Times.
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