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| | Accenture: Not looking to buy Acxiom
Tuesday, Mar 30, 2004 By Wesley Brown Arkansas News Bureau LITTLE ROCK - A top spokesperson for Accenture Ltd. on Monday called speculation that the consulting and outsourcing giant is in talks to acquire Acxiom Corp. "way off the mark." "Certainly, I have seen some stories in the media last week on speculation that Acxiom is involved in some kind (acquisition,) but Accenture is not in any way connected," said Roxanne Taylor, director of communications for the Bermuda-based company. Taylor said the company usually does not comment on deals in the works or rumors concerning possible acquisitions, but "that we are seeking to acquire Acxiom is way off the mark." Last week, Acxiom announced it had eliminated "some jobs" over a stretch of 10 days related to an organizational realignment effective April 1. "The company will discuss the scope of this restructuring when it is appropriate," The Little Rock data marketing provider said in a release on Thursday. The company is expected to make an announcement today. Although the company has not said how many people have been let go, some sources say it will announce job cuts in the range of 300 to 400 workers. Other media reports have put the potential number of layoffs as high as 1,200. Acxiom employs more than 5,500 workers worldwide with operations throughout the U.S. and the United Kingdom, France, Australia, Japan, Germany, The Netherlands, Poland, Spain and Portugal. The Little Rock data marketer's last major downsizing came in June 2001, when it laid off more than 400 workers or about 7 percent of its work force. That followed efforts by the company to save millions of dollars by asking nearly 2,000, or 36 percent of its eligible work force, to take voluntary pay cuts in exchange for stock options. In December, Acxiom entered into a seven-year partnership with Accenture, which has more than 86,000 employees in 48 countries. That deal allows the two companies to join forces to help each other's global clients run their businesses better. "We have (similar) partnerships with a number of companies," Taylor said of Accenture, which generated net revenues of $11.8 billion in fiscal 2003. The deal with Accenture was quickly followed this year by two strategic acquisitions that gave Acxiom entrance into the lucrative European consumer lifestyle and marketing business, and added nearly 1,000 new employees to the company's payroll. In January, Acxiom completed its $40 million acquisition of The Claritas Europe group, a Dutch information provider that employs about 550 people and has nine offices in seven countries. On March 1, Acxiom announced plans to buy the Consodata companies from Italy-based Seat P.G. for $37.5 million. The deal, which will begin adding to the company's profits in fiscal 2005, was recently approved by European labor officials. The Consodata acquisition and sales offices, in Kingston, England, Lyon, Lille and Paris, France, Munich and Barcelona, employ around 425 workers, Acxiom officials said. On Monday, Acxiom shares ended up 8 cents at $19.84 on thin trading. |
