STERLING , Va., June 21 (UPI) -- Technology company Neustar, Inc., announced its plan Tuesday to separate into two publicly traded and independent companies.
The company, started as a business within Lockheed Martin Corporation, provides Internet analytics to the telecommunications and marketing industries. It also is a part of the mobile instant messaging service industry and serves as a domain name registry for some Internet websites.
One will comprise Neustar's information services, which analyzes consumer choices and measurement in marketing, security and data services; revenue in this area grew to $470 million in 2015. The other will focus on order management and numbering services; the company is a provider of clearinghouse and directory services to the Internet and communications industries, accounting for $580 million in revenue last year.
The separation into two distinct companies, through a tax-free spin-off, is expected to take about 12 months. It requires approval from the company's board.
Lisa Hook, current Neustar president and CEO, will lead the information services company; James Cullen will head the order management company, which is expected to retain the Neustar name and identity.
