TheStreet To Buy BoardEx

(RTTNews) - TheStreet, Inc. (TST) said Tuesday that it has agrred to buy Management Diagnostics Ltd., the developer of the leading relationship capital management service BoardEx.

TheStreet expects to pay net cash consideration of about $21 million at closing. In addition, an earn-out may be payable in 2018 based on 2017 net revenue of BoardEx's existing products and services, subject to adjustment.

BoardEx provides relationship capital management services. Clients, including investment banks, consultancies and law firms use BoardEx to leverage their relationships and facilitate business and corporate development initiatives. The company is based in London with additional offices in New York and Chennai, India.

BoardEx will be integrated into The Deal, a business unit of TheStreet that serves corporate dealmakers with the most sophisticated analysis of mergers and acquisitions, private equity and restructuring. BoardEx's proprietary people data will be combined with The Deal's newsroom and transaction data, allowing subscribers to easily network with the very people they read about in The Deal's exclusive editorial content.

The acquisition is expected to close during the fourth quarter of 2014.