Shares of Neustar Inc. , a technology analytics company, rose 2.4% in premarket trade Tuesday after it said it plans to split into two independent, publicly traded companies through a tax-free spin-off. One of the companies will focus on information services, and the other, which will keep the Neustar name and brand, on order management and numbering services. "The proposed spin-off will enable Neustar shareholders to own and value each business separately, allowing each company to attract the investor base most appropriate for its distinct investment profile," James Cullen, chairman of the board of directors, said in the press release. The separation of the two companies will likely take 12 months, according to the company, and is subject to final approval by the board.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below