SUBSEQUENT EVENT (Notes)

3 Months Ended

Jun. 30, 2018

On July 2, 2018, the Company entered into a definitive agreement to sell Acxiom Marketing Solutions ("AMS") to The Interpublic Group of Companies, Inc. (“IPG”) for $2.3 billion in cash, subject to customary closing adjustments. The transaction is subject to standard regulatory review, Acxiom shareholder approval and other customary closing conditions. In addition:


•	As required regulatory approvals are being sought and received, Acxiom intends to solicit shareholder approval for the transaction;


•	Once shareholder approval has been received, which is expected in the second quarter of fiscal 2019, the Company expects to report the results of AMS as discontinued operations;


•	The transaction is expected to close in the third quarter of fiscal 2019; and


•	The Company expects to report a gain on the sale.

The Company expects to realize approximately $1.7 billion in net cash proceeds, after taxes and fees. Following the closing, the Company intends to:


•	Retire its existing $230 million debt balance;


•	Initiate a $500 million cash tender offer for its common stock;


•	Increase its outstanding share repurchase authorization by up to an additional $500 million, and extend the duration of its program to December 31, 2020;


•	Use the remainder of the proceeds to fund its growth initiatives, strategic acquisition opportunities and meet its ongoing cash needs;


•	Transfer the Acxiom brand name and associated trademarks to IPG; and


•	Rename the Company LiveRamp Holdings, Inc. and, shortly thereafter, begin trading its common stock under the new ticker symbol “RAMP”.