Publicis to acquire LiveRamp in $2.2bn deal

Publicis Groupe has agreed to acquire data collaboration platform LiveRamp in a transaction valued at $2.2 billion, expanding the group’s investment in artificial intelligence, data infrastructure, and enterprise transformation services. The acquisition is intended to strengthen Publicis Groupe’s position in data co-creation and support the development of AI-powered business systems for clients.

The all-cash transaction values LiveRamp at $38.50 per share and includes acquired net cash of $379 million. Publicis Groupe stated that the acquisition is expected to contribute positively to headline earnings per share from the first year after completion, excluding transaction-related costs.

Publicis expands data collaboration capabilities

LiveRamp operates a data collaboration platform that allows companies to unify, manage, and activate data across digital channels. The company works with more than 25,000 publisher domains and over 500 technology and data partners across 14 markets.

Publicis Groupe said the acquisition will combine LiveRamp’s collaboration and clean room capabilities with Epsilon’s identity technology and Marcel’s AI platform. The group expects the integration to support enterprise AI systems that rely on secure access to multiple data sources.

Acquisition supports AI-focused growth targets

Publicis Groupe raised its medium-term objectives following the announcement. The company now expects net revenue growth of 7 percent to 8 percent and headline EPS growth of 8 percent to 10 percent in 2027 and 2028 at constant currency. Previous targets were lower for both measures.

Arthur Sadoun, Chairman and CEO, Publicis Groupe: “By building the future of data co-creation, we’re empowering our clients to generate new, exclusive and proprietary data, to build the smartest, most differentiated AI agents on top of the leading LLMs.”

Publicis Groupe said the deal broadens its addressable market by supporting what it describes as agentic business transformation, where AI systems operate across functions using connected data assets. The company highlighted use cases in banking, retail, and pharmaceuticals.

LiveRamp to continue operating independently

Following completion of the acquisition, LiveRamp will continue to operate as a neutral and interoperable platform under CEO Scott Howe, who will report directly to Arthur Sadoun. The company’s financial results will be reported within Publicis Groupe’s Technology segment alongside Publicis Sapient.

Scott Howe, CEO, LiveRamp: “Our customers and partners have always been our North Star, and by joining forces with Publicis, we will have greater resources and flexibility to scale our business, continue innovating our platform, and help them unlock even greater value from their data.”

The transaction has been approved by the boards of both companies and is expected to close before the end of 2026, subject to shareholder and regulatory approvals.

www.publicisgroupe.com

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