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Ad agency holding group Interpublic Group announced Monday a deal to acquire Acxiom’s Marketing Solutions business for $2.3 billion in cash in the latest major mashup in the advertising industry.
Under the agreement, the Marketing Solutions group – which accounts for three-fourths of Acxiom’s revenue and develops software that helps companies and their brands manage large volumes of data – will be folded into IPG’s properties. What’s left of Acxiom will remain independent but will change its name, headquarters and focus.
To read more about IPG’s data acquisition, click here.
In other news:
Google reportedly allows outside app developers to read people’s Gmails. Google promised a year ago to provide more privacy to Gmail users, but The Wall Street Journal reports that hundreds of app makers have access to millions of inboxes belonging to Gmail users.
The Justice Department and FBI’s probe into Cambridge Analytica is now looking at Facebook, and the SEC and FTC are getting involved. The US Department of Justice’s investigation into Facebook’s Cambridge Analytica scandal is now looking at Facebook itself, not just the defunct data firm that gained access to its user data, according to a report from The Washington Post.
‘There’s no place that satisfies the entire user experience:’ Why a relatively unknown Japanese company is betting $110 million on Quartz to disrupt Facebook and Twitter’s news dominance. Uzabase, a Japan-based media company, sees a big opportunity to own all parts of U.S. media -from content curation to distribution.
Facebook is shutting down an anonymous app for teens it bought less than a year ago. Facebook is closing down tbh because of “low usage” as well as fitness app “Moves,” which it acquired in 2014, and “Hello,” an app it launched in 2015 “to combine information from Facebook with contact information on [your] phone.”
Chinese video bloggers are showing fans how to make fake makeup, and it’s costing the industry $20 billion. They repackage homemade lipsticks, eye shadows, and foundation using brand logos as “higher quality, low cost” alternatives to major brands like MAC and Dior.