Acxiom's Marketing Solutions Unit to Be Acquired by Interpublic Group for $2.3 Billion
On July 2, 2018, Acxiom, a database marketing company, announced that it has entered into a definitive agreement to sell its Acxiom Marketing Solutions (AMS) business to Interpublic Group (IPG), one of the world's leading organizations of advertising agencies and marketing services companies, for $2.3 billion in cash. Wilson Sonsini Goodrich & Rosati is representing Acxiom in the transaction.
The transaction was unanimously approved by Acxiom's board of directors and is expected to close by the end of calendar year 2018, subject to standard regulatory review, Acxiom shareholder approval, and other customary closing conditions. Upon closing, the company expects to realize approximately $1.7 billion in net cash proceeds, after taxes and fees.
For more information, please see the company's press release.