SAN FRANCISCO--(BUSINESS WIRE)--LiveRamp® (NYSE: RAMP), the leading data connectivity platform, today announced that it has entered into a definitive agreement to acquire DataFleets, a cloud data platform that enables data silos to be unified without moving data or compromising privacy. This acquisition expands LiveRamp’s data protection capabilities to unlock greater data access and control for its customers. In addition, the deal opens up new use cases as well as new markets for distributed data collaboration through LiveRamp Safe Haven.
With the exponential growth of data, enterprises are constantly evaluating how to best access and leverage data to fuel growth and innovation. Regardless of size, sector or geography, every company is trying to build a data strategy for competitive advantage. However, heightened privacy regulations and security considerations often put limitations on how data can be used or analyzed. Leveraging multiple advanced mathematical privacy technologies, DataFleets offers products that unify distributed data for collaboration and analytics without moving raw data beyond an enterprise’s firewall. Some early and existing privacy tools suffer from a limited set of operations and capabilities that they can handle safely. Now with DataFleets technology, enterprises can access a modern, rich set of data protection tools that can be configured based on each business’s needs. DataFleets’ federated learning technology makes it possible to analyze data across borders and silos in fragmented architectures, as if they were all aggregated to one location. Simply put, DataFleets keeps private data useful, and useful data private.
“This transformative acquisition combines LiveRamp’s deep privacy expertise and widely adopted platform with DataFleets’ game-changing technology, unlocking massive value for the entire ecosystem,” said Anneka Gupta, president and head of products and platforms at LiveRamp. “Together, our combined capabilities will pave the way for the next generation of privacy technology, serving as the foundation for our platform and products, and underscoring our commitment to making it safe and easy for enterprises to use data – wherever it lives.”
With the addition of DataFleets, LiveRamp will further extend its ability to meet evolving marketplace demands by strengthening its differentiated capabilities across four foundational pillars:
DataFleets provides Safe Haven customers more flexible options for distributed data collaboration, as well as unlocks privacy-protecting analytics use cases for new industries such as healthcare and financial services. In addition, DataFleets helps LiveRamp’s products and solutions adapt across jurisdictions with privacy designed into their infrastructure layers, empowering customers to comply with evolving privacy regulations around the world.
“With the addition of DataFleets’ technology and their deeply experienced team of industry experts, LiveRamp is now even better positioned to expand our capabilities across geographies and industries,” said Warren Jenson, president and chief financial officer, LiveRamp. “This transaction will support the expansion of LiveRamp’s offerings throughout Europe and in Asia-Pacific and the Latin American market in 2021, and help propel us into new addressable industries like healthcare and financial services, where the combination of DataFleets and LiveRamp together will power high-value use cases.”
David Gilmore, CEO of DataFleets, added, “We are incredibly excited to join the LiveRamp team and continue executing on our shared vision of helping enterprises unify data to unlock maximum value, all while upholding consumer privacy and control. The synergies are strong, and together we can help global enterprises remove barriers to data access and usage to power insights and innovation across their businesses.”
To learn more about LiveRamp’s acquisition of DataFleets, please visit: https://liveramp.com/blog/liveramp-to-acquire-datafleets.
Financial Impact and Closing
The transaction is expected to be completed in LiveRamp’s fiscal fourth quarter. The transaction is not expected to have a material impact on LiveRamp’s fiscal 2021 financial results.
The addition of DataFleets extends LiveRamp’s lead in privacy-preserving identity and data collaboration, driving continued strong growth and value for LiveRamp shareholders.
Third Quarter 2021 Earnings Results
In a separate press release issued today, the Company announced its earnings results for the third quarter of 2021. LiveRamp will host a conference call today at 1:30 pm P.T. to discuss the transaction, as well as its fiscal third quarter 2021 earnings results.
LiveRamp is the leading data connectivity platform for the safe and effective use of data. Powered by core identity resolution capabilities and an unparalleled network, LiveRamp enables companies and their partners to better connect, control, and activate data to transform customer experiences and generate more valuable business outcomes. LiveRamp’s fully interoperable and neutral infrastructure delivers end-to-end addressability for the world’s top brands, agencies, and publishers. For more information, visit www.LiveRamp.com.
Michelle Millsap on behalf of LiveRamp
- Originally published at https://www.businesswire.com/ February 8, 2021.