Publicis to acquire Liveramp for $2.2bn to build data co-creation leadership for AI agents

Publicis Groupe has agreed to acquire LiveRamp for $2.167 billion enterprise value ($38.50 per share), a 29.8% premium. The deal creates a data co-creation leader combining Epsilon’s identity with LiveRamp’s clean rooms and data connectivity, raising Publicis’ 2027-28 growth targets.

Publicis Groupe has entered into an agreement to acquire LiveRamp, a global data collaboration platform, for a total enterprise value of $2.167 billion in an all-cash transaction, according to official disclosures.

The acquisition price of $38.50 per share represents a 29.8% premium to LiveRamp’s closing price on May 15, 2026. Total equity value is $2.546 billion, including acquired net cash of $379 million.

This development matters because data co-creation connecting multiple high-value data sources across partners in a secure environment is an important capability in the AI era and an enabler of agentic business transformation. Combined with Epsilon’s identity, LiveRamp’s collaborative clean rooms, data connectivity, marketplace, and partner network of over 25,000 publisher domains and 500+ technology and data partners across 14 markets will build a leader in data co-creation.

The acquisition enables clients to collaborate securely, generate proprietary intelligence, and continuously train AI models with anonymized, integrated, dynamic data. Industries impacted include advertising, marketing technology, data collaboration, and AI services.

Stakeholders include brands, retailers, media platforms, and data providers.

For investors, the acquisition is expected to be accretive to Publicis’ headline EPS from the first year of consolidation, excluding transaction-related costs. LiveRamp has 1,300 employees and a highly recurring revenue base, with a trailing five-year CAGR of 13%.

Publicis Groupe is a French multinational advertising and public relations company headquartered in Paris, listed on Euronext Paris (CAC 40).

LiveRamp is a global data collaboration platform headquartered in the United States, enabling secure data connectivity and activation.