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TPG Growth Backs Acquisition of MarketTools By SurveyMonkey

Fort Worth-based private investment firm >TPG Growth, the middle market and growth equity arm of TPG Capital, said today that it is backing the acquisition of MarketTools by survey firm SurveyMonkey. Financial terms of the buy were not disclosed. According to TPG, it will acquire MarketTools, and transfer that firm's Zoomerang, ZoomPanel and TrueSample businesses to SurveyMonkey in exchange for a minority stake in SurveyMonkey. the companies said that the buy will add approximately 1.7 million users to SurveyMonkey's user base. SurveyMonkey provides web-based survey software.