Database giant InfoGroup, owners of B2B data specialists InfoUK, 'is up for sale'

by Noelle McElhatton, marketingdirectmag.co.uk 10-Nov-09, 09:30

LONDON - Potential buyers are lining up to view database giant InfoGroup, owners of B2B data specialists InfoUSA and InfoUK, according to US media reports.

On Saturday the Omaha World-Herald reported that at least 33 potential bidders are reviewing the company's finances.

The news follows a decline in InfoGroup's third-quarter sales, but a rise in net profits. InfoGroup, which owns global market research firm ORC, had sales of $125 million, down from $145 million in last year's third quarter.

Net profits totalled $4.8 million, compared with a loss of $8.7 million in the year-earlier period.

InfoGroup did not deny the report, saying it will follow a course that "optimizes value for all our shareholders."

Meanwhile InfoGroup says it has reached a tentative agreement with the Securities and Exchange Commission to settle an investigation of the company's spending and records that began nearly two years ago, but without admitting any wrong-doing.

InfoUSA launched its Manchester-based UK subsidiary in 2008, which is run by former Experian and Yell marketer Richard Lloyd at the helm.

According to InfoGroup's chief finance officer Tom Oberdorf, cost-cutting efforts will save the company about $35 million this year.