Acxiom Corp. has reached a $2.3 billion deal to sell its Acxiom Marketing Solutions business to Interpublic Group of Companies Inc., a global advertising agency.
The transaction is expected to close by the end of this year, the companies said.
Shares of Acxiom soared to a 52-week high in trading Monday on a report the Conway company was nearing a deal.
Acxiom shares rose $4.26, or 14 percent, to close at $34.21 on the Nasdaq exchange.
Acxiom, which has its headquarters in Conway, had announced a strategic review of its business earlier this year. Acxiom Marketing Solutions generates about three-quarters of the company’s annual revenue.
Read Tuesday's Arkansas Democrat-Gazette for full details.