Publicis to take over LiveRamp for $2.2bn, strengthening its data co-creation and AI-driven services

To strengthen its position in data co-creation and AI-driven services, Publicis Groupe has entered into an agreement to acquire global data collaboration platform for $2.2 billion. Following the acquisition, LiveRamp will continue to operate under the leadership of CEO Scott Howe, who will report directly to Publicis Groupe CEO Arthur Sadoun.

LiveRamp helps organizations to unify, manage, and activate data across the digital ecosystem, transforming fragmented datasets into secure, enterprise-grade assets for insights, activation, and measurement. Designed to be interoperable, the platform connects more than 25,000 publisher domains and over 500 technology and data partners across 14 markets. It enables brands, retailers, media platforms, and data providers to collaborate efficiently and securely.   

Through this acquisition, Publicis Groupe is deepening its investments in technology, data, and AI capabilities to capitalize on opportunities in agentic AI. The move is also expected to expand the Groupe’s addressable market and strengthen its long-term financial outlook, leading it to raise its 2027–2028 targets for net revenue and headline EPS growth at constant currency.

LiveRamp has 1,300 employees and delivered a five-year CAGR of 13%, supported by a highly recurring revenue model. Under the terms of the agreement, Publicis Groupe will acquire the company in an all-cash transaction valued at $2.167 billion in enterprise value, based on a purchase price of $38.50 per share. The deal reflects a total equity value of $2.546 billion, including acquired net cash of $379 million, and represents a 29.8% premium over LiveRamp’s closing share price on May 15, 2026.

The acquisition is expected to be accretive to Publicis Groupe’s headline EPS from the first year of consolidation, excluding transaction-related costs.

The transaction is also expected to enhance Publicis’ growth profile, with the Groupe raising its 2027 and 2028 constant currency growth objectives to +7% to +8% for net revenue and +8% to +10% for headline EPS, versus previous objectives of +6% to +7% and +7% to +9%, respectively.

The transaction has received unanimous approval from the Board of Directors of both Publicis Groupe and LiveRamp. Combined with Epsilon’s identity capabilities, LiveRamp’s clean room technology, data connectivity, marketplace, partner ecosystem, and agent network are expected to create a market-leading platform for data co-creation.

Arthur Sadoun, Chairman and CEO of Publicis Groupe commented, "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 personalization 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."

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."

Following the completion of the acquisition, LiveRamp’s financials will be reported within Publicis Groupe’s Technology segment alongside Publicis Sapient. The company will continue to operate as a neutral and interoperable platform, maintaining open access for all current and prospective customers. Publicis also confirmed that LiveRamp will continue to uphold its existing privacy commitments, protect customer and partner data under current contractual agreements, and maintain standard commercial and pricing practices.