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VNU Sells Claritas Europe
VNU has signed an agreement this week to sell its Claritas Europe business to Acxiom Corporation for EUR33.5 million. The completion of the deal is expected around year-end. VNU expects a corresponding book loss of EUR25-30m.
This sale results from the review previously announced in January 2003, in which VNU stated its intent to explore strategic options, including the possible sale, for its Claritas Europe business, as it operated with little synergy with the rest of VNU's Marketing Information business in the European marketplace.
Claritas Europe, employing approximately 550 people (FTEs), owns and operates the largest consumer lifestyle database in Europe, serving the direct marketing industry. It has nine offices in seven countries and is run independently from Claritas inc. in the USA, which remains part of VNU's Marketing Information group.
Trade Dimensions and Spectra Marketing Systems, both formally part of Claritas Europe, will remain part of VNU's Marketing Information, as their activities are closely aligned with VNU's mainstream marketing information businesses.
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