InfoUSA Shareholders Retain Board of Directors

Shareholders of Omaha-based database conglomerate InfoUSA voted to retain its current board of directors, including founder/chairman Vin Gupta, the company announced on Friday. If the independent inspectors of election confirm the preliminary results, then Gupta, George Haddix, and Vasant Raval will remain on the board until the next shareholder election, in 2009.

The reelected board had faced competition from a group backed by Stamford, CT-based investment firm Dolphin Limited Partnership, which owns 2 million shares, or 3.6%, of InfoUSA. In a statement, Dolphin said the vote was “exceedingly close” and that it was looking forward to the report by the inspectors.

“Over the last several weeks we have spoken with many of our shareholders and we appreciate their views about InfoUSA,” Gupta said in a statement. “The board and management remain steadfast in our commitment to building value for all our shareholders.”

In a campaign to win shareholder votes, Dolphin claimed to have “cataloged numerous serious issues,” including misuse of corporate assets; the allowance of Gupta to increase his ownership interest; and Gupta’s offer to buy shares at $11.75 after allegedly publicly stating that they were worth $18 per share.

Dolphin’s nominees – Malcolm “Mick” Aslin, Karl Meyer, and Robert Trevisani – have no ties to Dolphin, InfoUSA, or their management. Aslin is a former president/CEO with investment holding company Gold Banc.

In other InfoUSA news, last week it announced a definitive agreement to purchase Hackensack, NJ-based list and marketing services firm Mokrynskidirect. InfoUSA in November acquired Petersborough, NH-based list and marketing services firm Millard Group.

For more information on the InfoUSA- Mokrynskidirect deal, watch for the July 2006 issue of MULTICHANNEL MERCHANT.