The Indianapolis company previously known as Aprimo is being sold for considerably less than its acquisition price five years ago. Ohio-based Teradata Corp. has entered into a $90 million cash purchase agreement with a California private equity firm for Teradata Marketing Applications.
The buyer is an affiliate of Marlin Equity Partners. Teradata has been negotiating the sale of the unit since late last year as it shifts emphasis. You can view the filing with the U.S. Securities and Exchange Commission by clicking here.
Aprimo was founded in Indianapolis by Bill Godfrey.
Teradata acquired Aprimo in 2011 for $525 million. At the time, Teradata touted the move for the cloud-based company as a "milestone" event and it led to the launch of its new applications business unit that has been managed in Indy.
In 2013, it transitioned from the name Aprimo to Teradata Applications.
Teradata says either party can terminate the purchase agreement if the acquisition is not complete by October 22.