Interpublic Group today announced it has entered into a definitive agreement with Acxiom Corporation under which IPG will acquire the Acxiom Marketing Solutions business unit in a cash transaction valued at $2.3 billion, or net $2.0 billion after consideration of an acquisition-related benefit of the tax step-up. The agreement has been approved unanimously by the boards of directors of both companies.
The deal combines IPG’s media, creative, marketing services and analytics capabilities, global scale and consumer insights, with AMS’s unrivalled expertise in data management. With the acquisition, the Acxiom brand name will become part of the IPG portfolio; the transaction does not include the LiveRamp business of Acxiom Corporation.
The transaction has been unanimously approved by the boards of directors of both companies and is anticipated to close before year-end 2018. Completion of the transaction is subject to approval by Acxiom’s stockholders, as well as customary regulatory approvals.
Citi and J.P. Morgan are serving as financial advisors and providing committed debt financing, and Willkie Farr & Gallagher LLP is serving as legal advisor to IPG.
In the picture, Michael I. Roth, Chairman and Ceo of Interpublic