IPG, a US-based advertising giant, has made a serious acquisition this week. The company, which also one of the world’s largest ad holding companies, has acquired Acxiom’s legacy Marketing Solutions business unit for a whopping $2.3 billion.

The deal is expected to beef up IPG’s data-driven marketing portfolio. IPG (which stands for Interpublic Group of Companies) also owns ad companies Deutsch, McCann Worldgoup and IPG Mediabrands. Its clients include some of the leading companies and brands, such as Microsoft, Amazon, and Taco Bell.

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The Arkansas-based Acxiom is a database marketing company that collects, analyzes and sells customer data, which used in targeted advertising campaigns and financial services firms. Acxiom’s Marketing Solutions business unit includes tools and technology that help companies collect and consolidate their customer data, which used for targeted marketing campaigns. Additionally, the customer data also can be used in strategy and analytics services to help identify growth areas and opportunities. Aside from its Marketing Solutions product, the company also offers LiveRamp product which allows companies to combine customer data from various sources (both online and offline).

The company, which reportedly has a market capitalization of around $2.63 billion, has agreed to sell its business unit which represents about three-quarters of its total revenue in the fiscal year 2018. As part of the deal, Dennis Self and Rick Erwin will serve as co-presidents of Acxiom’s Marketing Solutions (AMS). The two will report to IPG Mediabrand chief technology officer Arun Kumar. The monstrous deal will leave Acxiom with a much smaller, but more flexible and faster-growing LiveRamp business unit.

The company’s client base in the US market consists primarily of companies in the automotive, telecommunication, travel, healthcare, entertainment, financial, insurance and government sectors.

In addition to its Arkansas office, the company also operates offices in Chicago, New York, Illinois, California, Massachusetts, and Nashville in Tennessee. The company also maintains international offices in UK, France, Germany, The Netherlands, Australia, Singapore, China, Brazil, Japan, and Poland.