Publicis Groupe agreed on 17 May 2026 to acquire LiveRamp for $38.50 a share in cash, valuing the data collaboration platform's equity at about $2.55bn.
Why Publicis Groupe S.A. is buying LiveRamp Holdings, Inc.
Publicis said LiveRamp would make it a leader in data co-creation, which it sees as a key enabler of AI agents and agentic business transformation, and expand its addressable market. It raised its 2027-2028 targets for net revenue and headline earnings per share growth.
Deal terms and financing
The price is a 29.8% premium to LiveRamp's close on 15 May and implies an enterprise value of about $2.17bn after $379m of acquired net cash. Publicis is funding the purchase with cash and debt. LiveRamp will operate as an independent business within the group, led by Scott Howe.
Regulatory approvals and timing
LiveRamp shareholders approved the merger on 17 August 2026, with about 92% of represented shares in favour, while rejecting an advisory vote on executive golden parachutes. Closing, subject to regulatory approvals, is expected before the end of 2026.
Market context
LiveRamp reported fiscal 2026 revenue of $813m, mostly from subscriptions. Publicis's largest previous deal was the $4.4bn purchase of Epsilon in 2019.
