Interpublic Group confirmed on Monday afternoon that it has agreed to buy Acxiom’s Marketing Solutions unit for $2.3 billion. The division accounts for about three-quarters of the data giant’s revenue (Wall Street Journal). The deal is expected to close by the end of this year (Reuters). After the acquisition is complete, the remainder of Acxiom will be rebranded as LiveRamp (MarketWatch).
There are risks in the deal for IPG. For one, competitors may no longer want to work with Acxiom because doing so would benefit a rival holding company, according to analyst Brian Wieser (Business Insider). The transaction could also influence WPP’s decision to keep or sell its Kantar business.
Meanwhile...Martin Sorrell’s S4 reportedly has its eye on MediaMonks, a Netherlands-based digital production shop, in what would be Sorrell’s first deal since leaving WPP and setting up S4 (Financial Times). MediaMonks operates in 11 markets and claims work for brands including KFC, Uber, and Mercedes-Benz (Campaign).
Pre-day-off must read: The federal investigation into Facebook’s sharing of data with Cambridge Analytica has broadened to include several federal agencies including the Securities and Exchange Commission, the Federal Trade Commission, and the FBI (Washington Post).
Losers from LeBron James’ decision to take his talents to Los Angeles include northeast Ohio and basketball fans on Eastern Standard Time who have to wake up early (cough, cough). But a big winner is Wish, the shopping startup whose decision to sponsor the Los Angeles Lakers’ jerseys before last season puzzled many observers. Starting this fall, the company’s logo will appear just below James’ face during dozens of nationally televised games in the 2018-19 season and likely in closely watched playoff matchups (Recode).
Best wishes for a happy, safe, and well-grilled Independence Day. The Breakfast Briefing is taking Wednesday off, but will return to your inboxes on Thursday morning.