TechTarget, Inc. Announces Pricing of Initial Public Offering

TechTarget, Inc. (NASDAQ: TTGT) today announced the pricing of its initial public offering of 7,700,000 shares of its common stock at a price to the public of $13.00 per share. Of the 7,700,000 shares being sold in the offering 6,427,152 shares are being sold by TechTarget and 1,272,848 shares are being sold by certain selling stockholders. TechTarget’s shares of common stock are scheduled to begin trading on the NASDAQ Global Market on Thursday, May 17, 2007 under the trading symbol “TTGT”. The company intends to use the net proceeds of the offering to repay certain outstanding debt, and primarily for working capital and other general corporate purposes (including financing the development of new offerings), sales and marketing activities, and capital expenditures. TechTarget will not receive any proceeds from the sale of shares of common stock by the selling stockholders. TechTarget and certain selling stockholders have granted the underwriters a 30-day option to purchase up to 1,155,000 additional shares of its common stock to cover over-allotments, if any.

Morgan Stanley & Co. Incorporated and Lehman Brothers Inc. are acting as joint book-running managers, with Cowen and Company, LLC and RBC Capital Markets Corporation acting as co-managers of the offering. A copy of the prospectus relating to the offering may be obtained by emailing, or by contacting the prospectus department at Morgan Stanley & Co. Incorporated, 1585 Broadway, New York, NY 10036, telephone (212) 761-6775, or by contacting Lehman Brothers Inc., c/o Broadridge, 1155 Long Island Avenue, Edgewood, NY 11717, by email at or by fax at (631) 254-7268. The prospectus will also be available on the Securities and Exchange Commission website at

A registration statement relating to this offering was filed with and declared effective by the Securities and Exchange Commission. The offering is being made solely by means of a prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale will be made only by means of the written prospectus forming part of the effective registration statement.

TechTarget is a leading provider of specialized online content that brings together buyers and sellers of corporate IT products. We sell customized marketing programs that enable IT vendors to reach corporate IT decision makers who are actively researching specific IT purchases. We operate a network of 35 websites, each of which focuses on a specific IT sector, such as storage, security or networking. IT professionals rely on our websites for key decision support information tailored to their specific areas of responsibility. We complement our online offerings with targeted in-person events and three specialized IT magazines that enable advertisers to engage buyers throughout their decision-making process for IT purchases. As IT professionals have become increasingly specialized, they have come to rely on our sector specific websites for purchasing decision-support. Our content enables IT professionals to navigate the complex and rapidly changing IT landscape where purchasing decisions can have significant financial and operational consequences. Since our founding in 1999, we have developed a broad customer base that now comprises more than 1,000 active advertisers who placed business with us in 2006, including Cisco, Dell, EMC, Hewlett Packard, IBM, Intel, Microsoft, Oracle, Research in Motion, SAP and Symantec. More information about TechTarget is available at

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.

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Garrett Mann
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