Another Virginia company has announced plans to split itself in two.
Sterling-based Neustar said Monday it intends to separate into two publicly traded companies. One company will consist of the majority of Neustar’s information services, and the other will focus on providing order management and numbering services.
The move follows other Virginia companies that have announced plans to split or merge in recent years, such as McLean-based news publisher Gannett, which separated its publishing and broadcast divisions last year. The broadcast and digital operation is now known as Tegna Inc.
“The proposed spin-off will enable Neustar shareholders to own and value each business separately, allowing each company to attract the investor base most appropriate for its distinct investment profile,” James Cullen, Neustar’s chairman of the board of directors, said in a statement.
