Acxiom Corp. of Little Rock on Thursday announced that it has completed the sale of its Impact email business to Zeta Interactive of New York City for $22 million.
The publicly traded data services company (Nasdaq: ACXM) first reported its intention to sell the email business for that amount in first-quarter results filed Aug. 4 with the Securities & Exchange Commission.
Acxiom also said in the report that it intended to enter into a separate multi-year contract to provide Zeta Interactive with services from its connectivity and audience solutions segments.
On Thursday, the company said it would use proceeds from the sale to buy back more shares of stock. Its board of directors has increased the share repurchase authorization by $100 million to $400 million and extended the program through June 30, 2018.
Zeta Interactive was founded by David A. Steinberg and John Sculley, a former CEO of Apple Inc. and PepsiCo.