CCMP Completes Infogroup Acquisition

In the US, CCMP Capital Advisors has completed its acquisition of data giant and ORC-parent Infogroup in a deal valued at $468m. A new executive leadership team and Board of Directors has also been appointed.

The sale was first announced in March, when Infogroup's Board unanimously approved the deal. However, the agreement met opposition from certain shareholder groups, with opponents accusing the Board of attempting to sell the company at 'an irresponsibly low price'. Infogroup shareholders finally OK'd the sale on Tuesday.

As anticipated, former Dow Jones Media Group EVP Clare Hart will take over the post of President and CEO, replacing Bill Fairfield who left the post yesterday. She previously founded Factiva, when it was a joint venture between Dow Jones and Reuters.

'Clare Hart has the perfect blend of skills - executive leadership, customer focus, product innovation, change management, technological savvy and deep relevant industry experience - to lead the transformation of Infogroup and deliver even greater value for its customers and ultimately its shareholders,' stated Rich Zannino, CCMP MD, and Chairman of Infogroup's newly formed Board of Directors.

Hart's new leadership team will include current Infogroup staff, supported by newly appointed executives including Marc Litvinoff, who has returned to the group as President of its research arm, having previously led the Guideline division (formerly known as Find/SVP).

Her new Board of Directors comprises Steve Cone, who is CMO at The Brierly Group; Jarvis Hollingsworth, Partner at Bracewell & Guiliani; Mike Iaccarinoa, President and CEO of Mobile Messenger; Boby Myers, Partner at McCarthy Captal; and Steve Murray, John Warner, Kevin O'Brien and Zannino from CCMP.

Hart said she is looking forward to working with the Infogroup leadership team and all the firm's employees, to help clients win business, drive financial performance and attain market leadership.

Sacked founder and former Chairman & CEO Vin Gupta has made around $101.6m from the deal. Gupta took Infogroup, then called American Business Information, public in 1992. The company was renamed InfoUSA in 1998 and became Infogroup in 2008.

www.Infogroup.com.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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