Charlesbank, M/C Partners Complete Acxiom IT Unit Purchase
August 04, 2015
Charlesbank Capital Partners and M/C Partners have announced the close of their acquisition of the IT Outsourcing business of Acxiom (NASDAQ: ACXM). The unit was acquired for approximately $190 million, comprised of $140 million in cash and up to $50 million in contingent payments subject to certain performance metrics. Acxiom will also receive a 5% profits interest moving forward. Webster Bank's TMT practice provided financing in connection with the transaction.