Hallmark Data Systems Sold to EBSCO
'World’s largest full-service subscription agency.'
Skokie, Illinois-based Hallmark Data Systems, a circulation fulfillment provider, has been sold to EBSCO, the world’s largest full-service subscription agency. The deal closed yesterday, says Ray Miller, Hallmark’s chairman.
The Jordan, Edmiston Group represented Hallmark in the deal.
Tinicum Capital Partners, a New York-based private equity firm, is the seller, and has owned Hallmark since 2003 when it purchased the company from SourceLink. Tinicum also owned Palm Coast Data before selling it to Allied Capital in 2005, which then sold it to Kable Media services in January 2007 for $92 million.
“I feel grateful for what Tinicum did, which was to be a great owner and find us a really good fit,” says Miller, who describes the purchase as a change of ownership.
Hallmark, which is 40 years old and services over 400 titles, is number-one in b-to-b publishing market share, says Miller.
EBSCO, a print and electronic subscription manager and information services provider, has partnerships with over 79,000 publishers.
According to Miller, Hallmark will remain in its Skokie headquarters.