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Acxiom Corp. sells IT business for $190 million | News

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Acxiom Corp. sells IT business for $190 million

LITTLE ROCK, Ark. (May 20, 2015) - Acxiom, an enterprise data, analytics and software-as-a-service company, announced on Wednesday that it has entered into a definitive agreement to sell its IT Infrastructure Management business (Acxiom IT) to Charlesbank Capital Partners and M/C Partners for total cash consideration of up to $190 million.

The sale is expected to close in the second quarter of fiscal 2016, following the satisfaction of regulatory requirements and other customary closing conditions.

"In the last three years, we have taken a number of steps to tighten our strategic direction," said Acxiom CEO Scott Howe. "This transaction represents the next phase in our journey to focus Acxiom on growing its core Marketing and Data Services business, and extending its leadership in onboarding and connectivity."

"We are excited about the future of Acxiom IT under the new ownership group," continued Scott Howe. "Their deep expertise, substantial capital base and commitment to IT outsourcing will give Acxiom IT a strong platform for growth and enhance its ability to deliver innovative solutions to its customers. Charlesbank and M/C Partners are gaining a deeply talented team that I am confident will flourish under their direction."

Ryan Carroll, a Managing Director at Charlesbank, added, "We are excited about the opportunity to work with Acxiom and our partner, M/C Partners, to provide the financial and operational resources to facilitate Acxiom IT's growth and continued success."

"M/C and Charlesbank are committed to supporting the Company's mission of providing solutions that help its clients deliver better, faster and more cost-effective results," said Gillis Cashman, a Managing Partner at M/C Partners.