Marketing technology company Acxiom says it plans to realign its portfolio after a comprehensive review of its businesses.
Following this review, the company announced that it intends to actively explore options to further strengthen and deliver greater value to its clients. These options may include a strategic partnership, acquisition, tax-free merger, joint venture, tax-free spin-off, sale or other potential strategic combinations.
The Conway based company explained that it will be creating two distinct business units: LiveRamp and Acxiom Marketing Solutions, which center around data augmentation, people-based marketing, data management and strategies, and analytics services.
The company says this realignment will allow for better meeting of clients' needs, create a stronger foundation for continued growth and enhance values for shareholders.
“At Acxiom, our clients are our number one priority,” said Acxiom CEO Scott Howe. “Aligning our structure with the way clients buy our products and services makes it easier to explore a greater range of opportunities for delivering value. In addition, the structure better positions each business to address distinct market trends and execute against its respective opportunity set.”
James Arra and Anneka Gupta will continue to serve as co-presidents of LiveRamp, and Rick Erwin and Dennis Self will serve as co-presidents of Acxiom Marketing Solutions. All business unit presidents will continue to report to Scott Howe.
“Acxiom Marketing Solutions has long-standing relationships with many of the world’s biggest brands and currently serves nearly half of the Fortune 100,” said Howe. “Our associates are deeply committed to the long-term success of our clients, and our goal is to provide them with the ability to deliver even greater value at an accelerated pace.”
Acxiom says it expects to report its results under the realigned business units in the first quarter of fiscal 2019.
Media partner KATV contributed to this story. For more information visit the Acxiom website or go to https://talkbusiness.net/2018/02/acxiom-to-spin-off-or-sell-its-traditional-marketing-division-realign-into-two-core-units/