Acxiom Files to Offer Stock to Public
The company said it would use the proceeds to reduce the outstanding balance on its credit facility, which would give the company more money for acquisitions, working capital and general corporate purposes.
The Pritzger Foundation will offer 3.9 million shares that were contributed by Trans Union LLC and its parent company, Marmon Industrial LLC. The shares had been acquired by Trans Union and Marmon in 1992 and 1994 as part of data management and marketing services agreements. After the offering, Trans Union will continue to own 3.6 million shares.
Separately, Acxiom yesterday said it entered an agreement with E.piphany Inc., Palo Alto, CA, to jointly deliver new customer relationship management and enterprise relationship management solutions. The new solutions will allow enterprise-wide access to customer data through a Web interface and will enable Acxiom's clients to use E.piphany's Web-based analytic tools with the Acxiom Data Network, among other things.