Acxiom Corp. will acquire digital marketing technology and services firm Digital Impact Inc., according to documents filed with the Securities and Exchange Commission. At a $3.50 per share purchase price, the total cost for Digital Impact will be roughly $129 million. Little Rock, AR-based Acxiom will pay cash for the shares.
Digital Impact had been targeted in an unsolicited bid by infoUSA, Omaha, NE, which had offered $2 per share for the stock it did not already own. InfoUSA held 1.6 million shares as of early March. In response, Digital Impact’s board of directors adopted a “poison pill” provision, which would have doubled the per-share acquisition price in the event of a hostile takeover.
The Acxiom acquisition is likely not considered hostile. On Friday, San Mateo, CA-based Digital Impact’s stock closed at $2.29 per share.
