Acxiom Marketing Solutions Sale Now Complete
CONWAY, Ark.--(BUSINESS WIRE)--Oct 1, 2018--Acxiom® (Nasdaq: ACXM), the data foundation for the world’s best marketers, today announced 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. Beginning tomorrow, October 2, 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.
Morgan Stanley served as lead financial advisor to the Company with respect to corporate matters including separation alternatives related to AMS. Evercore and Morgan Stanley served as financial advisors on the AMS transaction, and Wilson Sonsini Goodrich & Rosati served as legal counsel.
LiveRamp enters its next phase of growth with a strong and experienced leadership team. The Company’s bench is deep and brings considerable experience from both large and small technology companies. LiveRamp’s leadership:
LiveRamp will host its first ever Analyst and Investor Day on Monday, October 29, 2018 at the New York Stock Exchange in New York City.
Space for the event is limited and, therefore, advance registration is required. Analysts and institutional investors interested in attending are encouraged to contact LiveRamp Investors Relations at Investor.Relations@LiveRamp.com.
Acxiom provides the data foundation for the world’s best marketers. We enable people-based marketing everywhere through a simple, open approach to connecting systems and data that drives seamless customer experiences and higher ROI. A leader in identity and ethical data use for nearly 50 years, Acxiom helps thousands of clients and partners around the globe work together to create a world where all marketing is relevant. Acxiom is a registered trademark of Acxiom LLC. For more information, visit Acxiom.com.
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.
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events, including the timing of the proposed transaction and other information related to the proposed transaction. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern the proposed transaction and our expectations, strategy, plans or intentions regarding it. Forward-looking statements in this communication include, but are not limited to, (i) our expectations regarding the timing, completion and expected benefits of the proposed transaction, (ii) our plans, objectives and intentions with respect to our future operations, our customers and our market, and (iii) the expected impact of the proposed transaction on our business. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include the risk that the transaction may have unintended consequences on our business relationships, results of operations and business generally; risks that the proposed transaction disrupts current plans and operations; and general market, political, economic and business conditions. The forward-looking statements contained in this communication are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the period ended March 31, 2018. The forward-looking statements in this communication are based on information available to Acxiom as of the date hereof.
We undertake no obligation to update the information contained in this press release or any other forward-looking statement.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181001005983/en/
CONTACT: LiveRamp Investor Relations
Lauren Dillard, 650-372-2242
KEYWORD: UNITED STATES NORTH AMERICA ARKANSAS
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE COMMUNICATIONS MARKETING
SOURCE: Acxiom Corporation
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PUB: 10/01/2018 04:25 PM/DISC: 10/01/2018 04:26 PM