Acxiom Selling Background Unit for $74 Million
by December 5, 2011 11:08 am 111 views
Acxiom Corp. has agreed to sell its background screening unit, Acxiom Information Security Systems (AISS), to Sterling Infosystems, the third largest background screening company in the world.
The transaction, which will close in 60 days, is valued at about $74 million. Little Rock-based data marketer Acxiom says it will use proceeds for general corporate purposes.
“We have completed a careful evaluation of our business portfolio and strategy,” said Acxiom CEO and President Scott Howe. “AISS has been a good performer for Acxiom, but its divestiture is part of our long-term strategy of placing a greater emphasis on our core database and marketing services business. This will allow us to concentrate on what we do best while providing AISS with new opportunities to flourish as part of an organization solely focused on this service.”
Acxiom acquired its background screening unit in 2002. Sterling Infosystems has been in business since 1975.