Interpublic Group (IPG) has acquired Acxiom Corporation’s data-driven marketing division, Acxiom Marketing Solutions (AMS), in a deal worth $2.3 billion.
The deal was approved unanimously by the board of director of both companies with the transaction expected to be completed by the end of the year.
AMS will become part of the IPG’s media agency network MediaBrands, while the acquisition will not include Acxiom Corporation’s LiveRamp business.
Co-presidents Dennis Self and Rick Erwin retain their positions within the standalone division, aligned with IPG’s portfolio but will report to the company’s chief data and marketing technology officer Arun Kumar.
Acxiom’s 2,100 employees; which include 1,600 data specialists will be added to IPG’s global network of 20,000 staffers. The holding company’s new asset has access to over 2.2 billion consumers and manages records for over 20 billion customers worldwide.
The new offering will compose of data management, analytics, data strategy, and audience creation as IPG steer to push data practices and the onset of “outcome-driven marketing”.
“In a world where everything is becoming data-driven, Acxiom Marketing Solutions offers the deepest set of capabilities for helping companies navigate the complexity of creating personalized brand experiences across every consumer touchpoint,” said IPG’s chairman and CEO Michael Roth; “Combining AMS with a range of IPG assets will help us shape the future of our industry. Acxiom’s leadership on data ethics is second to none, its business is solid and growing, and it has long played a foundational role in the marketing ecosystem.”
Phillippe Krakowsky, chief strategist and talent officer at IPG commented that data for most businesses remain an under-leveraged asset while adding that combining data with the delivery of marketing messages continues to be a challenge.
“With the skills and capabilities that AMS brings to our portfolio of companies, we can offer clients end-to-end solutions that we believe will change the way in which we work for brands, and accelerate the onset of outcome-driven marketing,” said Krakowsky.