IntelliQuest Information Group Inc., Austin, TX, said Friday it is in talks to sell all or part of its operations. It has retained Piper Jaffray Inc. to assist in reviewing strategic alternatives.
IntelliQuest provides information-based marketing services to the technology industry, in addition to offering database marketing products and services.
“1998 was a rebuilding year for our company, but the board of directors continues to believe that the company’s current market price undervalues our core assets,” president and CEO Brian Sharples said in a statement. “In addition we believe that there are a number of companies which are well positioned to realize full value of these assets for our shareholders, customers and employees.”
IntelliQuest said that there was no certainty a sale would result from the talks and that it does not intend to make further announcements regarding its potential strategic repositioning until it has entered into definitive agreements or until it has decided to terminate all discussions.
The company also reported its financial results for the quarter and year ended Dec. 31, 1998. For the quarter, net income was $356,000 on revenue of $11.9 million, compared with a net loss of $618,000 on revenue of $9 million for the same period in 1997. Revenue increased by 32%.
For the year, the company reported a net loss of $1.6 million on revenue of $45.7 million, compared with net income of $2.2 million on revenue of $36.5 million in 1997. Revenue increased 25%.
IntelliQuest said its High Tech Household Database now includes over 11.5 million households.
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