Home

ChoicePoint completes sale of i2 Inc. for $185M

By Associated Press
June 10, 2008 | Comments (0)

Recs

0

Business services company ChoicePoint Inc. said Tuesday it has completed the sale of its government software business, i2 Inc. and i2 Ltd., to private equity fund Silver Lake Sumeru for $185 million in cash.

ChoicePoint said it reclassified the operations of i2 as discontinued operations in the fourth quarter of 2007.

The sale is part of ChoicePoint's previously announced strategy to sell off businesses that are not part of its core focus. The company provides insurance and business information, employment and vendor screening and background checks and other services, mostly to financial-services companies.

Silver Lake Sumeru is a fund of private equity firm Silver Lake.

Merrill Lynch & Co. and Wachovia Capital Markets served as financial adviser to ChoicePoint for the sale, which was announced in April.

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

DocumentId: 661445, ~/articles/articlehandler.aspx, 12/1/2008 8:14:10 PM,

Sign up for FREE Motley Fool site access!

Already registered? Login Here

It’s FREE! Enter your email address, and we’ll rush you to the article you're looking for right now.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.