Acxiom Acquires SmartDM, a Pharos Capital Portfolio Company; Fifth exit for Pharos I Fund.
DALLAS -- Acxiom(R) Corporation (Nasdaq: ACXM) reached a definitive agreement to buy Nashville, Tenn.-based full-service direct marketing agency SmartDM, a portfolio company of Pharos Capital Partners, L.P., Pharos announced today. Terms were not disclosed.
Pharos acquired its stake in SmartDM in March, 2000. This disposition is the fifth full exit, in addition to three partial exits, from their $155 million, vintage year 2000 fund.
"With SmartDM, we are pleased to have successfully navigated through the treacherous waters of the Internet/online and direct marketing space. We have achieved our goal of building SmartDM into the preeminent provider of fully integrated direct marketing and information management processes for mid-sized companies and we wish management well as they continue to build and grow the company," said Bob Crants, Pharos Managing Partner.
Richard Maradik, Chief Executive Officer of SmartDM, said, "our partnership with Pharos has been a strong collaboration, fostering a creative spirit that led to concrete gains. We now look forward to pursuing future opportunities with Acxiom."
About Pharos Capital
Founded in 1998, Pharos Capital Partners is a leading private equity firm focused on underserved markets. Pharos assists exceptional entrepreneurs in meeting and exceeding their goals to build innovative and market leading companies. The firm primarily invests $5 to $15 million in companies seeking later stage equity funding for internal growth, acquisitions, management buyouts or recapitalizations across industry sectors, with particular focus on healthcare, business services and technology.
About SmartDM Holdings
SmartDM Holdings, Inc. has 90 employees in the company's main office in Nashville and in Kansas City, Las Vegas and New York. SmartDM has more than 100 clients, including Wyndham Hotels Worldwide, Gaylord Entertainment, Harrah's Entertainment, the American Red Cross, Comcast-Spectacor, American General Finance, Oak Street Mortgage, Fieldstone Mortgage, the National Basketball Association, Bass Pro Shops, and many other sports-related enterprises.
