Experian sells cross-channel marketing business

Experian has struck a deal to offload its email and online marketing to technology investor Vector Capital as part of a strategic review.

Experian, which said the enterprise value of the Email/Cross-Channel Marketing business at completion is roughly $400m on a cash and debt free basis, has agreed to divest a 75% interest in CCM and will retain the balance.

Part of Experian's marketing services arm, CCM provides services which help clients develop, target and deliver marketing offers to consumers through email and across multiple online channels.

The transaction, which is subject to the usual closing conditions, is expected to complete before the end of September.

Chief executive Brian Cassin said November's strategic review of the marketing services business had identified fewer synergies between CCM and other parts of Experian.

"CCM has been a great investment for Experian, having rapidly grown from small acquisitions to become one of the leading global players in the industry. With the actions we've taken over the past two years to further improve the business, it is starting to regain momentum, and under new ownership it is well positioned to continue to make progress," he said.

"Vector Capital is a leading technology investor with a strong track record. The combined expertise of the CCM and Vector Capital operating teams will draw on the strength of both the CCM team and of industry leaders hired by Vector Capital, including Peter McCormick, the co-founder of ExactTarget.

"This will enable CCM to realise its ambition to serve the biggest brands in the world and fully seize the opportunities ahead. We believe this will lead to significant future benefits for Vector Capital, Experian and the CCM team."