InfoGroup to sell Macro International
InfoGroup Inc. today announced it has entered into an agreement to sell its subsidiary Macro International Inc. to ICF International.
The company acquired Macro International when it purchased research firm Opinion Research Corporation in December 2006.
Subject to the customary closing conditions, InfoGroup said it expects the cash transaction, which is valued at $155 million, to be completed within the next few days. InfoGroup plans to use substantially all of the net proceeds to reduce bank debt and significantly strengthen the company's balance sheet, it said.
“While we feel ORC and the market research business has synergies with the remainder of the company, Macro's focus on governmental social research is not a strategic fit for the company's overall portfolio of businesses,” said Bill Fairfield, InfoGroup's CEO. “Our strategy now is to focus on creating organic growth in our core businesses and developing new interactive sales and marketing solutions for our clients.”