‘Too early’ to comment on potential sell-offs, says InfoGroup CEO

The group announced yesterday that it had entered into an agreement to be bought by the private equity house, subject to shareholder approval and the clearing of regulatory hurdles.

In a speech to staff addressing the ramifications of the $635m deal, Fairfield said that the current InfoGroup board will remain in place until the transaction closes before stepping down to be replaced by a board chosen by CCMP. The current management will remain after the deal has been closed.

On the question of potential job cuts, the CEO said: “It is the intention of CCMP and InfoGroup to ensure continuity of operations and continued excellent service to our clients. As you know, we have been examining how we deliver products and services to our customers and determining ways to get closer to the customers. We will be continuing that initiative whether we were private or a public company because it’s the right thing to do for the business.”

Fairfield also revealed that the company’s largest shareholder, former chairman and CEO Vin Gupta, has already agreed to vote in favour of the deal and that the InfoGroup management saw no reason why other stockholders would oppose the takeover.