Harte-Hanks Inc. sold its 3Q Digital business to an entity owned by certain former 3Q Digital owners, including 3Q Digital CEO David Rodnitzky.
Terms of the transaction includes a cash payment of $5 million to Harte Hanks, and up to an additional $5 million in cash payable to Harte Hanks if the 3Q Digital business is sold again.
Harte-Hanks said March 2 that the $35 million earn-out related to the company's acquisition of 3Q Digital in 2015 was assigned to the buyer.
Harte Hanks expects that it will be due a yet-to-be-quantified tax refund related to the 3Q Digital sale after the company files its 2018 US federal income tax return.
