Company Expands Suite of Privacy Offerings and Doubles Down on Commitment to Data Stewardship
LiveRamp® (NYSE: RAMP), the identity platform powering exceptional experiences, announced the acquisition of Faktor to enable streamlined consent management across the open web. This deal represents a big win for the entire ecosystem and reinforces LiveRamp’s strategic focus on privacy and data stewardship.
Due to evolving consumer privacy regulations like GDPR and California Consumer Privacy Act (CCPA), companies need to navigate more complexity around compliance than ever before. With the acquisition of Faktor, LiveRamp can further help clients and partners ensure compliance as part of its larger privacy-focused suite of offerings in Europe, North America and across the globe.
“Through this acquisition, we’re excited to extend our footprint into new markets and to scale our platform to accommodate the growing need and demand for a simplified, people-centric consent management platform at the enterprise level.”
“The world’s largest and most innovative companies all believe that giving consumers increased visibility and control over their personal information is incredibly important, and recent regulatory requirements such as GDPR and the upcoming CCPA only make this more critical,” said LiveRamp CEO, Scott Howe. “With the acquisition of Faktor, we hope to send a powerful message to our customers, partners and the industry—that everyone should be informed and have control over how their data is used.”
Faktor is a consent management platform (CMP) that delivers valuable benefits to consumers, publishers and brands. Consumers are able to better manage how and where their data is used; publishers receive the tools they need to operate sustainable business models; and brands can provide more meaningful experiences to their customers.
“This is a tool every single one of our enterprise customers and publisher partners should adopt, as it will significantly simplify and streamline the compliance process and enable better online experiences for their consumers,” continued Howe.
In the coming quarters, any client or partner who needs to manage consent and maintain transparency to ensure compliance with CCPA can utilize LiveRamp’s suite of privacy tools. LiveRamp’s identity platform will also be fully integrated with Faktor’s offerings, unlocking several opportunities:
- Consumers will enjoy central consent management and persistent cross-device privacy controls.
- Publishers will have access to a fully integrated consent and identity platform, enabling improved monetization and stronger consumer relationships.
- Brands can deepen their relationships with consumers by making consent and transparency a pillar of their customer relationships.
“When we founded Faktor, we did so because we wanted to give consumers heightened control over their data, while still enabling brands and publishers to thrive. We wanted to power a real online value exchange,” said Tim Geenen, CEO of Faktor. “Through this acquisition, we’re excited to extend our footprint into new markets and to scale our platform to accommodate the growing need and demand for a simplified, people-centric consent management platform at the enterprise level.”
“Faktor is a trustworthy partner for us, and they enable choice and transparency to our users. This has been instrumental in enabling a stronger relationship with our customers,” said Mila Dimitrova, Data Protection Officer at NOVA Broadcasting Group. “They provide an excellent product and managed service, and we are excited for the increased commitment and capabilities that will come through the LiveRamp acquisition.”
With the addition of Faktor, LiveRamp gains a deeply talented team of privacy-focused technologists dedicated to accelerating LiveRamp’s data stewardship efforts. Faktor will remain headquartered in Amsterdam, though it will leverage LiveRamp’s global foothold and solutions to cross-sell products and services to the combined customer portfolio. Maintaining an independent roadmap, Faktor will have its own dedicated product and engineering resources allowing for collaboration with LiveRamp to unlock synergies both ways.
Financial terms of the transaction were not disclosed. The Company will provide guidance for its fiscal year 2020 on its fourth quarter earnings call in May.
LiveRamp provides the identity platform leveraged by brands and their partners to deliver innovative products and exceptional experiences. LiveRamp IdentityLink connects people, data, and devices across the digital and physical world, powering the people-based marketing revolution and allowing consumers to safely connect with the brands and products they love. For more information, visit www.LiveRamp.com.
Source: LiveRamp Press Release