Publicis Groupe has entered into an agreement to acquire LiveRamp, a global data collaboration platform, furthering its investment in technology, data and AI-led services.
LiveRamp is a global data collaboration platform that enables companies to unify, manage and activate data across the digital ecosystem. Interoperable by design, it connects over 25,000 publisher domains and 500+ technology and data partners across 14 markets, and enables brands, retailers, media platforms and data providers to collaborate and connect data effectively, efficiently and securely.
Under the terms of the agreement, Publicis Groupe will acquire LiveRamp for a total enterprise value of $2.167 billion in an all-cash transaction, based on an acquisition price of $38.50 per share. The transaction represents a total equity value of $2.546 billion and includes acquired net cash of $379 million. The purchase price represents a 29.8% premium to LiveRamp’s closing share price on May 15th, 2026, the last trading day prior to the announcement of the agreement.
The transaction is expected to enhance Publicis’ growth profile, with the Groupe raising its 2027 and 2028 constant currency growth objectives to 7-8% for net revenue and 8-10% for headline EPS, versus previous objectives of 6-7% and 7-9%, respectively. The transaction has been unanimously approved by the Board of Directors of both Publicis Groupe and LiveRamp.
Following the acquisition, LiveRamp will continue to be led by CEO Scott Howe, who will report directly to Publicis Groupe CEO Arthur Sadoun.
Commenting on the development, Arthur Sadoun, Chairman and CEO, Publicis Groupe said, “LiveRamp joining Publicis Groupe is the latest demonstration of our commitment to investing in new talent and innovation, ahead of market shifts. After acquiring Epsilon in 2019 in the name of personalisation at scale and enabling our clients to take back control of their data from the walled gardens, by shifting from cookies to identity, once again we are looking ahead to what’s next. 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. It will be valuable for our clients’ business growth, and a new addressable market for Publicis.”
He further said, “Thanks to the Power of One, we expect to be able to quickly unite and deploy LiveRamp’s capabilities globally for clients. Adding it to our ecosystem of Publicis Sapient, Epsilon, and Marcel, means we will go even further, and faster, in delivering agentic transformation to clients, whatever their stage of enterprise readiness, safely, transparently, and in their own environments. Beyond its technology platform, LiveRamp is a team of outstanding talent that we have had the opportunity to work closely with through our strategic partnership. We’re looking forward to welcoming them all to the Publicis family."
Scott Howe, CEO of LiveRamp added, “We are thrilled to announce our agreement with Publicis, marking the beginning of an exciting new chapter for LiveRamp and all our stakeholders. 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. This transaction also represents the best path forward for our shareholders, delivering significant and certain cash value at a compelling premium. Above all, this outcome is a testament to our employees, whose hard work and dedication have made LiveRamp the trusted partner it is today, and who will have new opportunities to grow and thrive as part of a global industry leader.”
