Publicis Groupe S.A. said commitments LiveRamp Holdings, Inc. reaffirmed to customers before regulatory review underpin proposed safeguards for its acquisition, addressing concerns over competition and customer data.
The Federal Trade Commission (FTC) describes the deal as having approximately $2.2 billion in enterprise value. Publicis said Monday that it still expects to complete the acquisition before the end of 2026.
Publicis said LiveRamp’s management had restated its existing customer commitments before the regulatory process began. The company said those commitments form the basis of the proposed FTC agreement.
Under the proposed safeguards, customers could use LiveRamp without buying Publicis services. LiveRamp would provide access on fair, reasonable and nondiscriminatory terms, keep customer data under customers’ control and maintain connections with outside agencies and platforms. Periodic independent audits would assess compliance.
The FTC opened the proposal for public comment following a 2-0 vote on Oct. 19. The agency alleges that owning LiveRamp could give Publicis incentives to misuse customer data or restrict competitors’ access, raising their costs. Those allegations have not been established as findings.
If finalized, the safeguards would protect LiveRamp customers and competing agencies and data providers, while Publicis and LiveRamp would have to meet the agreement’s requirements. After the 30-day comment period, the FTC will review submissions and decide whether to finalize, revise or withdraw the agreement.
