Who has heard anything about who TD is shopping the marketing division to, or who may be interested? Please post here.
6 replies (most recent on top)
And the layoffs started last week.
They just completed the sale to Marlin Equity Partners.
Any other news guys ? what's going on right now currently?
Just a guess, but they probably started shopping for buyers shortly after Jan 2015 when they split the apps business off. Like others, I thought they were in the final stages of a sale on Nov 5 when the announcement was made. I thought that was corporate saving face with the street. When no deal closed by 12/31/15, it was obvious there was no deal in play.
The longer this goes on, I think the higher the likelihood they will shut it down to a bare minimum with the hopes they can run off the remaining customers to avoid non-performance lawsuits before the close the whole thing down without a sale. It's sad, but within 5 years they have turned a market leader into a market laggard. I wondered what would happen 5 years ago when a company that has never been successful in the marketing apps space acquired a leader. Guess we know know. Another round of executive bonuses for the boys please. Their morale is dipping.
I also thought it was very odd back on Nov 5 when Teradata announced it. I expected, as you say, that they were already in final stages with the buyer.
The TMA sale looks like something put together by enthusiastic amateurs.
One of the first things you do after deciding to sell and before announcing to the world is to ensure that you actually have a buyer on board and the terms and conditions are agreed. Now, an asset that was bought for 500M+ cannot be flogged off even at the fire-sale price of 150M.
Your local lemonade seller has better sense.
Pathetic.