Teradata to sell marketing business

Teradata sold the unit for $90 million in cash, the company said in a filing with the U.S. Securities and Exchange Commission.

The data warehousing and analytics company announced its intention to exit the business last November, and since then has negotiated with prospective buyers, the company said.

The deal’s closing, which is subject to regulatory clearances and other conditions, is expected to occur in the second quarter of 2016.

“Until closing, Teradata is fully committed to ensuring the continued quality of service to its marketing applications customers,” the company said in a statement.

Los Angeles-based Marlin Equity Partners is a global investment firm with over $3 billion of capital under management, Teradata said.