|
|
December 2000
|
MapInfo acquires Canada's leading source for integrated Micro-Marketing data and analysis
Purchase of Compusearch expands MapInfo’s data business and enhances its CRM application expertise for the U.S. and Canadian markets
MapInfo Corporation (Nasdaq: MAPS) today announced that it has purchased from Equifax Inc. (NYSE: EFX) the principal assets of Compusearch Inc., the leading provider of micro-marketing segmentation and market analysis solutions in Canada, and MapInfo’s principal source of demographic data for the U.S. market. By acquiring Compusearch’s extensive data assets and CRM applications expertise, MapInfo significantly expands its capability to deliver integrated software and data solutions in the Americas. The transaction was structured as an asset purchase for $6.3 million in cash. The remaining assets of Compusearch were sold to a third party for an undisclosed amount.
Compusearch has been one of MapInfo’s strategic data partners and its leading supplier of demographic data products for the Americas since 1998, when it was owned by R.L. Polk & Co. In May 2000, Compusearch was among a group of businesses sold by R.L. Polk & Co. to Equifax Inc.
“As Compusearch’s largest customer, we are delighted to acquire this business as it fits perfectly with our strategic objective to manage the assets needed to deliver demographic segmentation analysis to our customers,” said Mark Cattini, president and chief operating officer of MapInfo. “This acquisition also broadens MapInfo’s product offerings and expertise in important vertical markets, such as financial services and retail. In addition, it expands our distribution capability in Canada.”
The 90 Compusearch employees hired by MapInfo will continue to operate from offices in Toronto, Montreal and Vancouver with those in Toronto joining MapInfo’s current staff of 30 R&D engineers in a newly expanded facility. The Compusearch business and organization will be immediately integrated into MapInfo’s fast-growing Americas operation.
Cattini added, “From a strategic perspective, this acquisition also brings new expertise to MapInfo’s initiatives for the mobile Internet market. It is a market where intelligence about customers’ lifestyle choices and locations will be vital to delivering accurate and timely location-based information and services via mobile devices. With our core competencies in location-based intelligence and our newly-expanded data sets, MapInfo is well-positioned to meet the unique requirements of this emerging market.”
The Company expects the acquisition to add $8 million to revenues and, as a result of increased costs, to have no impact on earnings in fiscal 2001. In fiscal 2002, the Company expects the acquisition to add $12 million in revenues and be accretive to earnings by about $.02-.03 per share.
About MapInfo
MapInfo Corporation enables customers to use location to transform information into business advantage. A global company and technology leader, MapInfo provides business intelligence solutions that are deployed across organizations to help them better understand their markets and customers. MapInfo solutions are available in 21 languages through a network of strategic partners and distribution channels in 58 countries. Headquartered in Troy, NY, MapInfo Corporation is on the World Wide Web at www.mapinfo.com.
|
|
|
|
|
