1 Min Read
(Reuters) - Credit data company Experian Plc (EXPN.L) said it would sell a 75 percent stake in its email marketing business to private equity firm Vector Capital, to focus on its core businesses.
The company said the enterprise value of the email/cross-channel marketing business (CCM) business is $400 million (319.13 million pounds) on a cash and debt-free basis.
Experian would retain the remaining 25 percent stake in the business, the company said.
The deal is expected to complete during the first half of the financial year ending March 31, 2018, the FTSE 100-listed information services company said.
Experian had started the process of divesting the email/cross-channel marketing business, the largest business line within its Marketing Services division, last November.
Reporting by Rahul B in Bengaluru; Editing by Sunil Nair