Acxiom® (Nasdaq: ACXM), the data foundation for the world’s best marketers, announced October 01, 2018 that it has successfully completed the sale of its Acxiom Marketing Solutions (AMS) business to The Interpublic Group of Companies, Inc. (IPG) for $2.3 billion.
“LiveRamp is a category creator. Our industry-leading platform is changing the world for our customers and their consumers,” said CEO Scott Howe. “As an independent company, LiveRamp will focus on its vision of creating a world where connected data makes every experience exceptional.”
The Company also announced that it has transferred the Acxiom brand to IPG and changed its name to LiveRamp Holdings, Inc. as of today’s market close. Sometime in October 2018, its common stock will trade under the ticker symbol “RAMP” on the New York Stock Exchange.
“LiveRamp is a best-in-class SaaS company with a terrific business model. We’ve demonstrated strong top-line growth, product expansion and an ability to significantly improve margins. The Company will also have an exceptional balance sheet,” said CFO Warren Jenson. “We enter the next phase of our journey in a position of strength and with a focus on delivering even greater value to our customers and shareholders.”
LiveRamp is headquartered in San Francisco, California, with approximately 750 employees world-wide.
The next few quarters will be a transition period for the Company. Legacy compensation plans and benefits programs will be terminated or modified to better reflect LiveRamp’s needs and competitive environment. In addition, several transitional service arrangements will be in place with IPG.
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.