Acxiom, the Little Rock-based data management company, has been sold, it says here. It's a $3 billion deal, at $27 a share. Buyers include Value Act, the investor that has prompted some changes already in the previously family-run nature of the company.
Changes afoot in LR? News release says:
[Acxiom leader Charles] Morgan said that "ValueAct Capital has consistently contributed valuable strategic insights to our business over the past four years, and Jeffrey Ubben, ValueAct Capital's managing partner, has provided further leadership since August 2006 as a member of our Board of Directors. Silver Lake is the premier investment firm in the technology sector, and their deep domain expertise makes them an outstanding partner for Acxiom."
"Clearly, we at ValueAct Capital have been an investor in Acxiom for several years because we are attracted by the foundation that Charles and his team have put in place, and we continue to believe in the company," Ubben said.
Conference call open at 6:45 p.m. at www.acxiom.com You can link and replay news conf.
UPDATE: Roby Brock's coverage in Talk Business indicates that Acxiom boss Charles Morgan says no changes are expected for current employees. All the same, I wouldn't be taking on new obligations if I were on the Acx workforce.