Publicis announces agreement to acquire LiveRamp for $2.2B

Publicis (PUBGY) has entered into an agreement to acquire LiveRamp (RAMP), a global data collaboration platform. With this acquisition, for a total enterprise value of $2.2B, the Groupe “furthers its investment in technology,data, and AI-services to unlock new opportunities for the agentic era. In doing so it will expand its addressable market, allowing it to raise its 2027-2028 objectives on net revenue and headline EPS growth at constant currency.” Under the terms of the agreement, Publicis Groupe will acquire LiveRamp for a total enterprise value of $2.167B in an all-cash transaction, based on an acquisition price of $38.50 per share. The transaction represents a total equity value of $2.546B and includes acquired net cash of $379M. 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 been unanimously approved by the Board of Directors of both Publicis Groupe and LiveRamp.