Acxiom Corp. and American List Counsel announced formally Friday that they have signed a non-binding letter of intent for the proposed merger of Acxiom subsidiary Direct Media into ALC.
Acxiom would hold a minority equity stake in ALC, and ALC would retain management and board control, the companies said. ALC anticipates that it will enter into a long-term strategic alliance with Acxiom for information management services.
Acxiom company leader Charles Morgan confirmed the letter of intent in an interview with DIRECT Newsline on Thursday (see DIRECT Newsline, June 25).
“We hope to bring together two industry leaders to create the largest distribution channel for consumer and business marketing information,” Donn Rappaport, chairman and CEO of American List Counsel, said in a statement. “This combination will provide substantial benefits to the customers, employees and investors of both companies.”
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