M&A · Tech · Services-Computer Processing & Data Preparation
Publicis to acquire LiveRamp Holdings, Inc.
Announced May 17, 2026 · Closed Nov 2, 2026
Deal value$2.50BEV $2.10B
Premium30.0%To unaffected price
EV / Adj. EBITDA13.2x2.6x EV / Revenue
ConsiderationAll cash$38.50 per share
Transaction
- Acquirer
- Publicis
- Target
- LiveRamp Holdings, Inc. (RAMP)
- Buyer type
- Strategic
- Offer price per share
- $38.50
- Enterprise value
- $2.10B
- Status
- Closed Nov 2, 2026
Deal protections
- Break fee (target pays)
- $32.4M · 1.3%
- Reverse fee (buyer pays)
- $32.4M · 1.3%
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- BofA Securities, Evercore
- Evercore fee
- $28.0M
Sector context · Tech
- Comparable deals
- 66 in the prior 24 months
- Premium
- 30.0% vs. 39.0% sector median
- EV / Adj. EBITDA
- 13.2x vs. 16.7x sector median
- Break fee
- 1.3% vs. 3.0% sector median
Timeline
- AnnouncedMay 17, 2026
- Proxy filedJun 24, 2026
- Definitive proxyJul 6, 2026
- Shareholder voteAug 17, 2026
- ClosedNov 2, 2026
Valuation · fairness opinions
Discounted cash flow$33.83$49.38
Trading comparables$25.63$37.66
Trading comparables$29.56$46.21
Trading comparables$22.32$28.54
Trading comparables$29.39$38.14
Offer $38.50
Implied value per LiveRamp Holdings, Inc. share by analysis, from Evercore · DCF discount rate 13%–15%.