LiveRamp agrees to $38.50/share Publicis buyout; growth slows to 9% as merger caps public story

Filed May 21, 2026 · Period ending March 31, 2026 · Compared to 10-K May 21, 2025 · ~2 min read

Key Changes

• high

  Definitive merger with Publicis Groupe at $38.50/share cash, expected to close by end of 2026 pending stockholder (66.7% threshold) and regulatory approvals including CFIUS. Stock will delist upon closing.

  Business & MD&A: Merger Agreement verify on EDGAR →
• high

  Revenue growth decelerated to 9% ($813M) from prior year's 13%, while top-10 customer concentration rose from 25% to 30%, increasing dependence on largest accounts.

  MD&A: Revenue & Risk Factors verify on EDGAR →
• high

  Net earnings swung to $146M ($2.24/share) from $0.8M loss, driven primarily by $47M tax benefit from releasing deferred tax asset valuation allowance—a one-time accounting gain, not operational improvement.

  MD&A: Tax Benefit verify on EDGAR →