The Dun & Bradstreet Corporation DNB announced it has entered into an agreement for the sale of substantially all of the assets and liabilities of its North America Self Awareness Solutions business, in a deal valued at approximately $100 million. Under the terms of the agreement, D&B will receive $10 million in cash at closing and is entitled to annual royalty payments from the buyer for data and brand licensing. The transaction is subject to customary closing conditions and is expected to close on July 30, 2010.
The sale is part of a strategic relationship whereby the buyer will operate the acquired business under the name of Dun & Bradstreet Credibility Corp., and distribute D&B-branded products to the micro customer segment.
The deal is expected to reduce full-year 2010 core revenue by approximately $51 million and full-year 2009 core revenue by approximately $70 million. There will be no impact to total company operating income and our overall 2010 guidance remains unchanged.
As a reminder, D&B’s North American Self Awareness Solutions business provides credit on self products for small and micro businesses. This transaction provides D&B with the ability to better focus our resources on our core customer segments and maximize shareholder value.
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