Consodata, which is owned by Turin-based directories firm Seat PG, owns and operates some of the most comprehensive consumer lifestyle databases in Europe.
Under the terms of the offer, Seat PG will retain ownership of the Consodata operations in Italy and the US.
When completed the acquisition will be Acxiom's second recent buy in Europe following its purchase in January of the European operations of Claritas in England, France, Germany, the Netherlands, Spain, Portugal and Poland from VNU.
In a statement Acxiom company leader Charles Morgan said: "The Consodata acquisition will be another step forward in our strategy of providing a full complement of services for businesses wanting to succeed in the pan-European market."
He added: "As a single company we will be better positioned to respond to our clients' growing multinational marketing efforts as well as support companies of all sizes and geographies who are looking to grow their business in Europe."
The deal will add approximately €50m (£33.35m) to €55m to Acxiom's revenue for 2005, which begins April 1 2004. This will increase Acxiom's anticipated annual European revenues to approximately $235m.
Consodata's clients include some of the world's most successful companies in the financial services, retail and media industries. The Consodata data acquisition and sales offices being purchased by Acxiom are in Kingston, England; Lyon, Lille and Paris, France; Munich, Germany; and Barcelona, Spain.
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