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TheStreet.com Looks to Benefit from IPO Mania

Financial site TheStreet.com Inc. Wednesday made a move to broaden its online resources with the purchase of ipoPros.com.

Terms of the deal were not disclosed.

ipoPros.com is a subscription-based site offering research, ratings, data and news about initial and secondary stock offerings. TheStreet.com (TSCM) will incorporate ipoPros.com into its network, though the ipoPros.com site will continue to provide its full content offerings to subscribers after the close of the transaction, expected in the next few weeks.

ipoPros.com founder Ben Holmes will write a daily IPO column for TheStreet.com under a multi-year employment agreement. Holmes has been a contributing columnist for TheStreet.com since April.

The IPO market has always been a hot one, but with recent success of companies such as VA Linux Systems, Inc. (LNUX) and other tech stocks, consumers' interests are increasing. Thomas J. Clarke, chief executive officer of TheStreet.com, said that the acquisition adds new IPO resources to the company's investment information.

"The ipoPros.com product is an outstanding addition to TheStreet.com, with commentary, analysis, news and data that's original, cutting-edge, and exceptionally useful to today's investor," said Clarke.

"...This combination will bring unmatched IPO research and analysis to our growing subscriber base -- and lends our marketing and technological resources to help further the growth of ipoPros.com."