Vin Gupta, founder, chairman and CEO of infoUSA Inc. yesterday proposed acquiring 38% of infoUSA’s common shares for $11.75 per share and taking the company private, through an entity he controls Vin Gupta & Co. LLC.
“This proposed price represents a 25% premium to today’s closing share price,” Gupta said in a letter to the board of directors of infoUSA. “Assuming full cooperation from the board of directors of the company, we believe this transaction may be closed in 90 days.”
InfoUSA offers business-to-business and consumer database products through numerous divisions including Donnelly Marketing, Walter Karl Inc., Edith Roman Associates Inc., among others.
Gupta founded infoUSA with a $100 investment in 1972. The firm presently has more than 600 full time employees.
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