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TheStreet Will Be Acquired By Maven For $16.5M

Tanzeel Akhtar

Online financial news publication TheStreet, Inc. (NASDAQ: TST) will be acquired by Maven (OTC: MVEN) for $16.5 million in cash.

“The first step was the successful sale of our RateWatch business in June 2018, followed by the sale of TheDeal and BoardEx which closed earlier this year, followed by a substantial distribution to our stockholders from the proceeds of those sales at the end of April,” said Eric Lundberg, CEO and CFO of TheStreet, in a press release.

“After taking into account the ongoing development needs and operating costs of the remaining consumer business as a stand-alone public company, we believe this agreement represents the best way to maximize value to TheStreet shareholders."

Seattle-based Maven is a coalition of Mavens, including individual thought-leaders to world-leading independent publishers, operating on a shared digital publishing, advertising, and distribution platform and unified under a single media brand.

TheStreet's stock closed Tuesday down 1.9% at $5.68 per share.

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