ChoicePoint to Buy Marketing Information & Technology Inc.
ChoicePoint Inc., a credential verification and identification services provider, has entered into an agreement to acquire Marketing Information & Technology Inc., a provider of large-scale direct marketing systems.The acquisition is expected to build upon ChoicePoint's 1998 purchase of Customer Development Corp. and its 2000 purchase of Statewide Data Services.
Following the expected close on July 1, ChoicePoint, Alpharetta, GA, plans to integrate MITI, Andover, MA, with its ChoicePoint Direct subsidiary to create a single operation.
ChoicePoint Direct offers campaign management services featuring Field Assist, a turnkey Web-based lead generation platform. ChoicePoint Direct's customers are primarily in the insurance and consumer finance sectors.
MITI focuses on developing and delivering customized prospecting platforms for large, sophisticated database marketers. Its customers are in the banking and mortgage lending industries where sophisticated, credit-based information is critical to success.
The transaction is not expected to have a material impact on ChoicePoint's financial results, and ChoicePoint does not expect the transaction to dilute earnings. The transaction will be accounted for as a purchase.
