Neustar demonstrates negotiation skill in Targus takeover
A deal has been concluded that will see Neistar take over Targus Information.
Telecommunications company Neustar is to acquire Targus Information for $650 million (£416 million).
The all-cash deal - which may have required negotiation skill - has been described as a "significant and logical step" in terms of growth strategy by president and chief executive officer of Neustar Lisa Hook.
"By combining with Targus Information, we will be able to offer a much more diverse portfolio of services in the real-time information and analytics market," she added.
For the 12 months ending September 30th, revenues at Targus exceeded $149 million, which represented year-on-year growth of 20 per cent.
Paul Lalljie, Neustar's chief financial officer, observed the deal will allow the parties to improve their growth strategies.
He added the efficient capital structure being organised will encourage a good return for shareholders and sustain a swell in sales.
Speaking on the Neustar blog, Ms Hook stated the agreement will help the firm as it looks to become a leading provider of decision support.
Posted by Ken Hayes
Source: Neustar press release, October 11th