By Kevin McCauley
TheStreet Inc., the online financial news and investment site, has acquired The Deal LLC from Wasserstein & Co. for a disclosed sum.
Launched in 1999 as The Daily Deal newspaper, The Deal has transitioned to an online subscription model that reaches an audience base of 40,000 bankers, hedge fund operators, law firm partners and private equity partners.
It publishes more than 100 pieces of daily commentary, analysis and data customized to reach each subscribers job function and focus.
Elizabeth DeMarse, CEO of TheStreet, called the deal a “terrific combination that grows the most profitable portion of our business, subscription revenue.”
TheStreet is listed on the NASDAQ. Its shares are trading at $1.39. The past year’s range is $1.20 and $2.37.
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