Little Rock, Ark.—Data giant Acxiom Corp. on Monday announced it has agreed to acquire e-mail marketing company Digital Impact for $3.50 per share in cash in a deal worth about $140 million.
The boards of both Acxiom and Digital Impact have approved the deal.
Digital Impact had been fending off a hostile bid of $2 per share from data provider infoUSA. Digital Impact called that offer "financially inadequate."
Vinod Gupta, CEO of infoUSA, said Monday: ""I commend the shareholders of Digital Impact for enhancing the shareholder value, and I think the offer by Acxiom was fair. We could have gone slightly higher, but that was it. We have no plans to top that number."
Gupta said infoUSA owns shares in Digital Impact and would support the offer.
The Acxiom deal is part of a larger trend of data providers acquiring e-mail companies. Both infoUSA and Experian have made significant acquisitions in the e-mail space since the start of 2004.