TechTarget Inc.elected Mike Cotoia as its new CEO and as a board member.

Previously, Cotoia served as the COO of the company. The currentCEO, Greg Strakosch, will take over the executive chairman position as a full-timeemployee of the company.

TechTarget also said that it intends to launch a tender offerto purchase around 25% of its issued and outstanding shares, up to 8 million shares,at $7.75 per share. The company will fund the tender offer through cash on handand a new loan for $50 million.