Acxiom Corp. (ACXM) said Monday that it has agreed to sell its background screening unit, Acxiom Information Security Systems, or AISS, to Sterling Infosystems, Inc., the third largest background screening company in the world, for about $74 million.
The sale is expected to close within 60 days.
AISS, which Acxiom acquired in 2002, had $49 million in revenue and contributed about $0.04 to Acxiom's earnings per share for the trailing 12 months ended September 30.
Acxiom said the divestiture is part of its long-term strategy of placing a greater emphasis on its core database and marketing services business.
The net proceeds from the AISS divestiture, in combination with Acxiom's existing cash balances and expected future cash flow, will be used for general corporate purposes.
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