Columbus-based Alliance Data Systems Corp., a global provider of data-driven marketing and loyalty services, has completed the sale of its Epsilon business to Publicis Groupe, one of the world’s largest marketing agencies. Alliance Data plans to use the net sale proceeds to repurchase shares and pay down corporate debt.
Publicis Groupe paid an estimated $3.95 billion after tax step-up, implying an 8.2 times adjusted EBITDA multiple, according to a press release from the French company. The transaction was announced in April.
Alliance Data’s global headquarters moved from Plano, Texas, to Columbus in June, as Melisa Miller, who ran Alliance Data’s Card Services division, stepped up as CEO. The company maintains its 2019 guidance provided in its first quarter earnings release issued April 25, 2019.