Acxiom Corporation divestiture of 2Touch Ltd / Parseq
Cavendish Corporate Finance, along with our M&A International partner, TM Capital, are delighted to announce the cross-border divestiture by Acxiom Corporation (NASDAQ: ACXM) of 2Touch Ltd to Parseq plc.
Acxiom with revenues of over $1 billion, is an enterprise data, analytics and software-as-a-service company that drives data-driven marketing results for corporate clients worldwide.
2Touch, a subsidiary of Acxiom, is a premier UK-based technology-enabled outsourcing service provider specializing in multi-channel contact center, response handling and fulfillment solutions for some of the largest and most recognizable brands in the world.
Acxiom divested 2Touch to Parseq, a comprehensive, PE backed, European business process outsourcing (BPO) service provider, as part of its strategy to focus on growing its core marketing technology business.
The combined organisation will employ around 2,700 people working from five key sites in Sunderland, Glasgow, Rotherham, London and Brighton and have a turnover of around £65m and enhances Parseq’s proposition as the only mid-sized corporate providing end to end outsourcing services combining front office, back office and IT.
John Farrugia, Director at Cavendish, commented:
“We are delighted that the 2Touch sale to Parseq provides an excellent opportunity for Acxiom to focus on growing its core business in Europe, while allowing 2Touch to realize its potential under a company dedicated to business process outsourcing”
David Eisenberg, SVP Strategy and Corporate Development, Acxiom Corporation:
“The 2Touch divestiture is an important step in our strategy to refine our focus on our core marketing technology business. TM Capital and Cavendish worked seamlessly to evaluate the best possible alternatives for 2Touch and navigate the complexities of a cross-border corporate divestiture to deliver a successful outcome for all parties. We appreciate the senior level commitment from TM and Cavendish and their relentless dedication in completing this important transaction.
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