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5/18/2026

Publicis Drops $2.5 Billion on LiveRamp — Why the Ad Giant Just Made Data Its Most Valuable Asset

The advertising industry’s M&A playbook just got rewritten. French media and communications giant Publicis Groupe announced Sunday it has entered into a definitive agreement to acquire LiveRamp Holdings (NYSE: RAMP), a San Francisco-based data collaboration platform, in an all-cash deal valued at $2.546 billion in total equity value — or approximately $2.167 billion on an enterprise value basis after accounting for LiveRamp’s net cash position of $379 million.

3 min read