Database company Infogroup entered into an agreement with private equity firm CCMP Capital Advisors to be purchased for approximately $460 million, or about $8 per share. The equity firm plans to take the company private after the completion of the deal, according to Infogroup. The sale was guided by investment bank Evercore, which was retained by Infogroup last year to advise the company.
The transaction is valued at a total of $635 million, including debt refinancing. The deal is expected to close this summer, pending shareholder approval. Founder Vinod Gupta, the single largest shareholder of the company, has gone on record supporting the acquisition.
Formerly known as InfoUSA, Infogroup owns more than 32 companies, including infoUSA, Salesgenie, and researcher Opinion Research Corp. The company develops data-driven targeted sales and marketing solutions.