A group of managers and brokers from Direct Media Inc., Greenwich, CT, is expected to begin discussing the purchase of all or part of the company next week after the letter of intent for American List Counsel Inc., Princeton, NJ, to acquire DMI is to expire July 31. DMI's parent company, Acxiom Corp., Conway, AR, was still expected to retain a stake in the world's largest list management firm as it seeks to divest or restructure it. Acxiom, which acquired DMI in 1996 but has not been able to expand the business fast enough to meet its 25 percent annual growth targets, provides data-processing services for DMI's clients and probably will seek to continue to do so, sources within DMI have said. The agreement for ALC to acquire DMI reportedly fell through because some of DMI's business-to-business brokers and managers were prepared to leave the company if it were merged with ALC.
1 minute read
DMI Managers Expected to Pursue Purchase From Acxiom
July 30, 1999