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ACQUISITIONS:
3 Months Ended
Jun. 30, 2014
ACQUISITIONS:  
ACQUISITIONS:

5.ACQUISITIONS

 

Subsequent Event

 

On July 1, 2014, the Company completed the acquisition of LiveRamp, Inc., a leading service provider for onboarding customer data into digital marketing applications.  As a result of this transaction, LiveRamp is now a wholly-owned subsidiary of the Company.  Under the terms of the merger agreement, the Company paid $265.7 million, net of cash acquired, in cash for all outstanding shares of LiveRamp, resulting in a 100% change in control of LiveRamp.  The purchase price for the acquisition will also include certain replacement stock options issued to LiveRamp employees.  The Company has not yet completed the purchase accounting for the acquisition.  Results of operations for LiveRamp will be included in the Company’s condensed consolidated financial statements from the date of acquisition.

 

Upon the completion of the acquisition on July 1, 2014, the Company incurred a liability amounting to $0.8 million payable to a third party for transaction fees relating to the acquisition.  In addition, transaction fees related to the acquisition were $0.8 million for the three months ended June 30, 2014.

 

LiveRamp will be included in the Marketing and data services segment.  LiveRamp’s annual revenue for its most recent fiscal year was approximately $22 million.