Enterprise data, analytics and software-as-a-service company Acxiom Corporation (ACXM), has recently divested 2Touch- its U.K. call center business to Parseq Ltd for an undisclosed amount. Parseq Ltd is a leading European business process outsourcing service provider. The proceeds from this acquisition would be utilized for general corporate purposes.
The strategic decision to divest the call centre business has come through a careful consideration of portfolio optimization. This sell-off helps Acxiom to become a marketing technology company with its main focus on expanding its business in Europe. Acxiom has already been focusing on improvement of its product portfolio through strategic initiatives, which enable it to concentrate on its fast growing businesses and target marketing across all channels and devices.
Of late, Acxiom has been focusing more on its core competency areas by expanding its businesses through acquisitions and strategic partnerships. In May, 2014, Acxiom entered into an agreement to acquire LiveRamp – a leading service provider for onboarding customer data into digital marketing applications for $310 million in cash. This apart, Acxiom entered into strategic alliances with comScore (to provide marketers with increased audience reach and media return on investment across multiple channels) and marketing Software Company (to provide marketers with enhanced approach and the ability to achieve optimal campaign results through the integration of AOS into SHIFT’s Open Marketing Cloud platform).
Acxiom has also been making efforts to reposition its portfolio by divesting assets that no longer fit in the company’s strategy and making investments in other attractive markets.
Acxiom Corporation provides consumer data and analytics, information technology, data integration, and consulting solutions. Its products and services enable clients to use information to improve their business decision-making processes and manage customer relationships. Moving ahead, the company is likely to be highly benefited by its well-diversified business portfolio in terms of geographies, products and markets.
Acxiom currently has a Zacks Rank #3 (Hold). Other stocks that appear attractive include Kofax Limited (KFX), Barracuda Networks, Inc (CUDA) and EPAM Systems, Inc (EPAM), each carrying a Zacks Rank #2 (Buy).
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