Acxiom(R) Extends Retail Solutions with Acquisition of Equitec
06 January 2007 - 12:18AM
Business Wire
Acxiom� Corporation (Nasdaq: ACXM) today announced it has expanded
and enhanced its retail business solution capabilities with the
acquisition of Equitec, based in Cleveland, Ohio. The acquisition
pairs Acxiom � a global leader in customer information management
and technology � with Equitec, a business with strong marketing and
merchandizing optimization expertise in the retail industry. All
Equitec principals are being retained and will continue to lead
this practice in support of the company�s retail market growth
strategies. Terms of the asset purchase were not released. Acxiom
expects the transaction to be accretive to earnings in fiscal 2008.
�This acquisition enables Acxiom to offer a unique combination of
custom consulting and analysis, deep customer insight and
standardized assessment that accelerates financial return for
retailers,� said Acxiom Company Leader Charles D. Morgan.
�Retailers will be able to confidently adjust merchandise
assortments, to better predict market and store potential, to
accurately assess new product launch opportunities and to clearly
identify underserved markets and segments, all derived from the
unique needs of consumers in individual store trading areas.� The
acquisition solidifies a successful business relationship that
dates to 1999 when the two companies initiated the Market Advantage
joint venture. That experience generated numerous client results
including the generation of $14 million in new business on a $100
million base; a reduction of $17 million in working capital in the
first year of an allocation re-program; and identification of $160
million in revenue in underserved markets for a leading specialty
retailer. �Retail is increasingly a difficult business in which to
prosper,� said Mike Henry, Chief Executive Officer and founder of
Equitec. �It�s no longer good enough to know �what�s selling;�
increasingly �who�s buying� matters more. Progressive retailers
will locate stores, adjust their formats and allocate and assort
merchandise more frequently through the lens of deep consumer
insight.� �Acxiom now has the capability to diagnose, build,
deliver and leverage solutions that enable retailers to respond
more confidently and accurately to consumer buying behavior within
current or planned trading areas,� said Tim Suther, Acxiom Retail
Client Services Leader. �We will accelerate time-to-benefit for
those retailers seeking to better understand consumer behavior and
its influence upon merchandizing, marketing, operations decisions
and profits.� As Acxiom associates, Equitec�s employees will
continue to provide industry-leading service to clients in retail,
manufacturing and travel sectors. Notable Equitec clients include
Black & Decker, The Home Depot, EarthLink, General Electric, KB
Home, Masco Companies, Sabre Holdings, Saks and Travelocity.
Equitec�s headquarters are in Cleveland, Ohio, and it has a
regional office in Colorado. About Acxiom Corporation Acxiom
Corporation (Nasdaq: ACXM) integrates data, services and technology
to create and deliver customer and information management solutions
for many of the largest, most respected companies in the world. The
core components of Acxiom's innovative solutions are Customer Data
Integration (CDI) technology, data, database services, IT
outsourcing, consulting and analytics, and privacy leadership.
Founded in 1969, Acxiom is headquartered in Little Rock, Arkansas,
with locations throughout the United States and Europe, and in
Australia, China and Canada. For more information, visit
www.acxiom.com. Acxiom is registered trademark of Acxiom
Corporation.
Acxiom (NASDAQ:ACXM)
Historical Stock Chart
From Jul 2024 to Aug 2024
Acxiom (NASDAQ:ACXM)
Historical Stock Chart
From Aug 2023 to Aug 2024
Real-Time news about Acxiom Holdngs (delisted) (NASDAQ): 0 recent articles
More Acxiom Corporation News Articles