Shares of LiveRamp Holdings, Inc. (RAMP) are up 11% on Thursday after the company announced the acquisition of Habu, a data clean room software provider, in a cash and stock transaction valued at approximately $200 million. The company also reported preliminary revenues for its third-quarter, which is above the company's prior outlook.
RAMP is trading on the New York Stock Exchange at $41.10, up 11.35% or $4.19 per share. It has traded between $20.26 and $42.66 in the past 52-week period.
The acquisition is anticipated to help LiveRamp offer global data collaboration, solving fundamental challenges for customers. Furthermore, the team from Habu is set to report to LiveRamp's Chief Revenue Officer, Vihan Sharma.
The transaction is set to be finalized in the fourth quarter of the fiscal year.
Additionally, LiveRamp expects revenue of approximately $174 million and adjusted operating income of approximately $36 million for its third quarter ended December 31, 2023. The prior expectations were revenue of $165 million and an adjusted operating income of $29 million.
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