Deals
Interpublic to Buy Acxiom’s Marketing-Services Unit for $2.3 Billion
- Acquisition gives Interpublic strength in data management
- Industry struggled amid rise of data-driven online marketing
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Interpublic Group of Cos., one of the world’s largest advertising companies, agreed to acquire Acxiom Corp.’s marketing-services unit for $2.3 billion, gaining tools to help clients sift through data to reach potential customers.
Acxiom expects to receive $1.7 billion in net proceeds, according to a statement Monday. The company plans to repay debt, buy back stock and reinvest in its other business. Interpublic is the the owner of advertising companies including Craft, FCB and Magna, and intends to make the Acxiom name one of its brands.