The more than 300 employees of Morrisville-based MaxPoint received quite an email at 7:54 a.m. on Monday from their CEO: The company is being sold.
Workers also were told to keep quiet about the deal if contacted by the media.
Disclosed in an SE filing late Monday after the announced sale to Michigan-based Valassis, MaxPoint CEO Joe Epperson labeled his email as “An Important Announcement.”
“Hi all,” he wrote.
“I am excited to announce that we have signed a definitive agreement for the acquisition of MaxPoint by Valassis, a leader in intelligent media delivery, through its parent company Harland Clarke Holdings. Together, with Valassis and its Valassis Digital division, we will have a broad and capable presence in the marketplace delivering data infused ads across multiple channels.”
The email included no financial details, although the selling price was disclosed in a press release.
A “town wall” was scheduled later in the day for employees and Valassis representatives.
No word about any job cuts or future roles for MaxPoint employees.
However, Epperson made one point quite clear: Talking about the deal is a no-no.
“As a reminder, it is important that we speak with one voice and you should not talk with any media,” Epperson wrote.
“Should you receive any inquiries from the media or other third parties, please refer them to Michelle Engle (Michelle.Engle@maxpoint.com).”
The full text of the letter follows:
“An Important Announcement”
Hi all,
I am excited to announce that we have signed a definitive agreement for the acquisition of MaxPoint by Valassis, a leader in intelligent media delivery, through its parent company Harland Clarke Holdings. Together, with Valassis and its Valassis Digital division, we will have a broad and capable presence in the marketplace delivering data infused ads across multiple channels.
By joining forces with Valassis, MaxPoint will have the scope, breadth and capabilities to compete more effectively while serving a wider range of client verticals more efficiently with a broad array of products and services. The combination of our companies will bring together best of breed solutions across all areas of the business with the opportunity to cross-sell products including additional media channels like digital coupons, email and mobile marketing, along with print solutions that will help our clients reach their customers. We are all tremendously excited about the positive impact this will have on our business.
The combination of MaxPoint and Valassis will create a truly unique marketing technology and services company. The combined resources of our two companies will enable us to derive rich consumer intelligence, while providing a new and unparalleled ability to make that intelligence measurable and actionable. We firmly believe the future of marketing is centered on measureable omni-channel activation and rich personalization. Together we are positioned perfectly to drive the industry into the future.
We understand you may have questions and look forward to welcoming several members of the Valassis team for a town hall later today. Please look for an invitation and plan to attend.
With today’s announcement, steps are underway to complete the transaction. It is expected that the transaction will close in the fourth quarter of 2017. Until then, the companies remain separate, and it is business as usual. It’s important for us to continue focus on the day-to-day initiatives and efforts that will deliver against our 2017 goals, deliver exceptional work for our clients and contribute to the success of our business. As a reminder, it is important that we speak with one voice and you should not talk with any media. Should you receive any inquiries from the media or other third parties, please refer them to Michelle Engle (Michelle.Engle@maxpoint.com).
This is an exciting time and another leap forward for us. You should take pride in the hard work and dedication that has brought us to this point. Thank you very much.
Source: SEC filing
