Indianapolis-based marketing software maker Aprimo Inc. will be sold to an Ohio data-storage company for $525 million, Teradata Corp. said Wednesday.
In buying Aprimo, Teradata will assume $25 million in Aprimo's cash. The company expects the purchase to close during the first quarter of 2011.
Founded in 1998, Aprimo two years ago shelved plans for an initial public stock offering that could have raised $50 million, blaming the economy.
But the company keeps growing, with revenue of $69 million last year—32 percent higher than when Aprimo filed its would-be IPO in 2007.
In March, Aprimo co-founder and CEO Bill Godfrey told IBJ he wouldn’t rule out making acquisitions, or the possibility of an IPO, at some point.
Teradata, which is a public company, already offers analytics along with data storage. But in buying Aprimo, the company said it can analyze the effectiveness of its customers' marketing campaigns.
And because Teradata was never a strictly Web-based company, the combined company can offer both Web-based services as well as software programs installed on local servers.
The move allows Teradata to sell more services, as well as persuade its clients that Teradata is a one-stop shop for various analytics services.
Teradata expects the purchase will add slightly to earnings per share during the first year after the acquisition closes.
Aprimo’s software supports numerous Fortune 500 companies’ broader marketing campaigns and in-house marketing administration. Big customers include AT&T, Cummins Inc., International Speedway Corp. and Target. It has 400 employees, including 250 in Indianapolis.
In August, one of its biggest competitors said it had agreed to be acquired by IBM for $480 million. Waltham, Mass.-based Unica Corp. has 500 employees.
This story has been updated here.