Interpublic Group’s $2.3 Billion Acquisition of Acxiom Marketing Solutions

Citi and J.P. Morgan are serving as financial advisors and providing committed debt financing, and Willkie Farr & Gallagher LLP is serving as legal advisor to IPG.

Interpublic Group (NYSE: IPG) has entered into a definitive agreement with Acxiom Corporation under which IPG will acquire the Acxiom Marketing Solutions business unit in a cash transaction valued at $2.3 billion, or net $2.0 billion after consideration of an acquisition-related benefit of the tax step-up. The agreement has been approved unanimously by the boards of directors of both companies.

The deal combines IPG’s media, creative, marketing services and analytics capabilities, global scale and consumer insights, with AMS’s unrivalled expertise in data management. With the acquisition, the Acxiom brand name will become part of the IPG portfolio; the transaction does not include the LiveRamp business of Acxiom Corporation.

Dennis Self and Rick Erwin will continue to serve as co-presidents of AMS, which will remain a stand-alone division, aligned with IPG Mediabrands, reporting into Arun Kumar, Chief Data and Marketing Technology Officer, IPG.

Acxiom Marketing Solutions is the leading provider of data solutions for delivering real-time customer experiences, and includes all of Acxiom’s data and data services. The company has 2,100 employees including 1,600 data specialists, over 2,000 world-class clients, access to hundreds of marketing databases, recognizes 2.2 billion connected consumers and manages over 20 billion customer records.

The Willkie deal team was led by partners Steven Gartner (Picture), Danielle Scalzo and Eugene Chang, and included partners Jordan Messinger and David Tarr, and associate Anne Barrett.

 

Involved fees earner: Steven Gartner – Willkie Farr & Gallagher; Danielle Scalzo – Willkie Farr & Gallagher; Anne Barrett – Willkie Farr & Gallagher; Eugene Chang – Willkie Farr & Gallagher; Jordan Messinger – Willkie Farr & Gallagher; David Tarr – Willkie Farr & Gallagher;

Law Firms: Willkie Farr & Gallagher;

Clients: Interpublic Group of Companies, Inc.;

 

Author: Ambrogio Visconti