Publicis hasn’t even officially closed its acquisition of LiveRamp yet, and another adtech company is already trying to buy part of it.
According to a new report from Axios, Hightouch, the agentic marketing platform, has offered to buy key LiveRamp assets from Publicis — specifically RampID and LiveRamp Connect — for between $800 million and $1.2 billion in a mix of cash and stock.
Publicis announced the LiveRamp acquisition last month for about $2.2 billion.
Why This Matters:
The proposal highlights the current value of identity and data infrastructure as AI and agentic advertising continue to reshape the space. Hightouch has emerged as one of adtech’s fastest-growing companies, and acquiring LiveRamp’s identity assets would expand its footprint and customer base considerably.
The move also reflects ongoing concerns around Publicis owning infrastructure that much of the ad ecosystem relies on/uses. Following the LiveRamp deal announcement, rival agencies and industry observers questioned whether competitors would remain comfortable relying on tech controlled by a major holding company. (FWIW, Publicis has claimed it will remain neutral.)
Axios reports that Hightouch is prepared to move quickly and will withdraw the proposal if it doesn’t receive a response from Publicis by June 26.
Experts React:
Here are some of the more interesting reactions to the Axios report from X (frankly, we’re shocked more people aren’t talking about it):
Our Take:
Our view: It would be surprising if Publicis sold the assets. Doing so would raise obvious questions about whether the company truly understood what it was buying in the first place. But, obviously, it does. Keep in mind that Publicis has spent years assembling a data and identity stack through acquisitions like Epsilon, Lotame, and now LiveRamp. Identity and data connectivity seem central to its overall and future strategy.
That said, Hightouch’s interest is fascinating. On one hand, identity remains some of the most valuable infrastructure in advertising (clearly). On the other, if Hightouch is betting heavily on an AI-first future, it’s fair to ask how durable identity-based advertising will be over the long term as AI makes contextual targeting, content understanding, and audience prediction better and more executable. Identity isn’t going away anytime soon, but it’s interesting to think about.
Clearly, a worthwhile discussion for Cannes!
