Acxiom to rebrand as LiveRamp after successful sale to IPG
Data service, Acxiom, today announced it will rebrand as LiveRamp following the successful $US2.3bn sale of its Acxiom Marketing Solutions business to The Interpublic Group of Companies.
ACXIOM MARKETING SOLUTIONS SALE NOW COMPLETE
Company Emerges as LiveRamp – Will Trade as RAMP on NYSE
LiveRamp Leadership Team Named
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 changed its name to LiveRamp Holdings, Inc. as of yesterday’s market close. Beginning today 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.
Leadership
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:
Chief Executive Officer: Scott Howe
President, Chief Financial Officer and Executive Managing Director of International: Warren Jenson
President and Chief Commercial Officer: James Arra
President and Head of Products and Platforms: Anneka Gupta
Chief Ethics and Legal Officer: Jerry Jones
Chief Data Ethics Officer and Head of Public Policy: Sheila Colclasure
Head of People and Culture: Brandon Sammut
Head of Communications and Investor Relations: Lauren Dillard
From an Acxiom media release
