Acxiom selling information technology arm to 2 private-equity firms in potential $190M deal
Little Rock-based Acxiom Corp. said it is selling its information-technology infrastructure management operations to two private-equity firms in a potential $190 million deal.
Acxiom will retain a 5 percent interest in the value of the company after the sale to Charlesbank Capital Partners and M/C Partners is finished, the Arkansas Democrat-Gazette (http://bit.ly/1c79Wl3 ) reported.
Acxiom said Wednesday that it will receive $140 million when the sale closes, which is likely to take 45 to 60 days pending regulatory approval. The company also will get up to $50 million in contingent payments subject to certain performance requirements; it didn't provide further details.
The sale to Charlesbank and M/C Partners will help Acxiom focus on growing its core marketing and data services business, CEO Scott Howe said.
Acxiom has watched revenue from its IT business decline by 20 percent in the first quarter of the 2015 fiscal year, about 17 percent in the second and 16 percent during the third when compared to corresponding periods in 2014. Acxiom's total revenue during the third quarter fell 3 percent to $260.4 million.
Information from: Arkansas Democrat-Gazette, http://www.arkansasonline.com