PARIS (dpa-AFX) - Publicis Groupe SA (PUBGY.PK, PGPEF.PK, PUBP.PA), a major French media company, said that it has reached a mutually acceptable deal with the Federal Trade Commission to address the concerns over Publicis Groupe's proposed acquisition of LiveRamp Holdings Inc. (RAMP), a provider of data connectivity services to facilitate movement of data used for digital advertising.
The French company's deal with the Federal Trade Commission follows the concerns that the planned acquisition of LiveRamp by Publicis Groupe would spoil competition in markets for media agency services and audience data services.
Under the deal, to ensure fair competition, LiveRamp will continue to operate as it does now as a neutral platform to ensure that Publicis does not gain an unfair advantage over its competitors in the digital advertising marketplace.
The deal has also resolved the concerns that Publicis would deny or degrade access to LiveRamp services on which competitors rely, which would lead to higher costs and lower quality services for customers.
Earlier, Publicis Groupe had announced its plans to buy LiveRamp for a total enterprise value of $2.167 billion in an all-cash transaction. The proposed transaction represents a total equity value of $2.546 billion and includes acquired net cash of $379 million.
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