The $38.50/share all-cash acquisition by Publicis Groupe provides a clear floor and upside target for RAMP shares, which should trade near the offer price minus a modest deal-risk spread. Monitor for shareholder vote and regulatory approvals (HSR, CFIUS) — the deal is expected to close by end of calendar 2026. The strong Q4 results (subscription net retention 107%, ARR up 8% to $545M) support the strategic rationale.
Price Chart
Executive Summary
LiveRamp reported Q4 FY26 revenue of $206M (+9% YoY) and non-GAAP EPS of $0.52, while simultaneously announcing a definitive agreement to be acquired by Publicis Groupe for $38.50/share in an all-cash transaction valued at $2.5B equity value (30% premium to the May 15 close). The acquisition will take the company private, and no earnings call or guidance will be provided. The combination of a solid operational quarter and a take-private premium creates a clear bullish catalyst for current shareholders.
Key Financial Metrics
Key Facts
- Q4 FY26 total revenue $206M, up 9% YoY
- Q4 FY26 non-GAAP EPS $0.52
- Subscription revenue $158M, up 9% YoY
- Subscription net retention improved to 107%
- FY26 record annual operating cash flow of $168M
- FY26 share repurchases totaled $194M (7.1M shares)
- Publicis Groupe to acquire LiveRamp for $38.50/share in all-cash transaction
- Equity value of $2.5B, representing 30% premium to May 15 closing price
- Transaction expected to close by end of calendar 2026
- No earnings call or financial guidance provided due to pending acquisition
Financial Impact
Acquisition at $38.50/share represents a 30% premium to the unaffected stock price, implying ~$2.5B enterprise value. Q4 revenue of $206M and FY26 revenue of $813M both grew 9% YoY.
Risk Factors
- Regulatory approval risk (HSR, CFIUS) could delay or block the transaction
- Shareholder vote required — potential for dissenting shareholders or appraisal claims
- No go-shop provision in the merger agreement limits competing bids
- Integration risk post-close — Publicis may not realize expected synergies
- Stock may trade at a discount to the offer price until deal certainty increases
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-062908 |
| Document: tm2614904d1_ex2-1.htm | 0001104659-26-062908 |
| 8-K Data (Synthetic) | 0001104659-26-062908 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 20, 2026 6w ago | 8-K | $37.58 $37.61 | ▲ +0.08% | ▲ +0.61% | $37.67 (+0.25%) |
Aug 17, 2026 6w ago | 8-K | $37.43 $37.87 | ▲ +1.18% | ▲ +2.92% | $37.67 (+0.65%) |
Aug 10, 2026 7w ago | DEFA14A / 8-K | $37.75 $37.74 | ▼ −0.03% | ▲ +0.89% | $37.67 (−0.20%) |
Jul 22, 2026 10w ago | Press Release | $37.68 $37.65 | ▼ −0.08% | ▼ −3.39% | $37.67 (−0.01%) |
Jul 6, 2026 12w ago | DEFM14A | $37.54 $37.87 | ▲ +0.88% | ▲ +1.44% | $37.67 (+0.36%) |
Jun 24, 2026 14w ago | PREM14A | $37.45 $37.66 | ▲ +0.56% | ▼ −1.37% | $37.67 (+0.60%) |
Jun 4, 2026 17w ago | DEFA14A | $37.42 $37.54 | ▲ +0.32% | ▼ −1.54% | $37.67 (+0.68%) |
Jun 3, 2026 17w ago | DEFA14A | $37.40 $37.73 | ▲ +0.88% | ▲ +1.88% | $37.67 (+0.74%) |
May 18, 2026 19w ago | DEFA14A | $37.77 $37.61 | ▼ −0.42% | ▼ −2.00% | $37.67 (−0.25%) |
May 18, 2026 19w ago | DEFA14A | $37.77 $37.61 | ▼ −0.42% | ▼ −2.00% | $37.67 (−0.25%) |
US Market Status
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