Enterprise data and analytics company Acxiom Corporation has confirmed it is to sell its Marketing Solutions business (AMS) to marcoms giant Interpublic Group for $2.3 billion in cash.
AMS was formed in February when Acxiom reorganised into two units, giving a much-enhanced profile to LiveRamp, the data onboarding business it acquired five years ago. AMS' suite of offerings include data strategy and management, audience creation, performance media, planning and buying, and analytics. The transaction does not include the LiveRamp business.
As part of the deal, reported by DRNO yesterday, AMS's more than 2,100 employees will now work for IPG, led by existing AMS Co-Presidents Dennis Self and Rick Erwin who will report to IPG's Chief Data and Marketing Technology Officer Arun Kumar. Through the acquisition, IPG says it will 'deliver a foundational data asset' to clients, based on a data set covering two-thirds of the global population. Acxiom CEO Scott Howe says the transaction provides a 'great outcome' for both Acxiom and the AMS business unit and IPG, representing the best possible path forward for clients and associates.
IPG Chairman and CEO Michael Roth (pictured) comments: 'The powerful combination of IPG and Acxiom Marketing Solutions is a game changer for the industry, and we believe it will drive meaningful value for both our clients and shareholders. Over the last year of working closely with AMS to power our AMP data platform, we've seen that our cultures are a great fit, and we are very excited to welcome them to IPG'.
Web sites: www.acxiom.com and www.interpublic.com .
All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.