infoGROUP Founder Says Company Should Explore Strategic Alternatives

OMAHA, Neb., Dec. 22 /PRNewswire/ -- Vinod Gupta, the founder and beneficial owner of approximately 40% of the shares of infoGROUP (Nasdaq: IUSA), announced today his belief that the Company should explore its strategic alternatives, including a sale of the Company. Mr. Gupta stated that while he is already exploring a proposal to acquire the shares held by the public, he would, under appropriate circumstances, also be willing to sell his family's shares in connection with a sale of the entire Company.

"I believe that the infoGROUP stockholders would benefit from a cash or liquid stock proposal for their shares," said Mr. Gupta. "I am exploring working with an equity partner to make a cash proposal for the Company to the Board of Directors and have retained The Blackstone Group as my financial advisor and Latham & Watkins as legal counsel. However, I want to emphasize that I would also be willing to sell my shares for liquid stock or cash if that proves to be the best transaction for all the stockholders of the Company."

SOURCE Vinod Gupta

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Copyright © 2009, NewsBlaze, Daily News

Tags: ,NE-infoGROUP-Founder

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