Interpublic Group (NYSE: IPG) announced on Monday that it has entered into an agreement with Acxiom Corporation (NASDAQ: ACXM) to acquire its marketing solutions business unit for an all cash deal valued at USD 2.3 Billion.

The deal combines IPG’s media, marketing services and analytics capabilities, global scale and consumer insights with Acxiom’s expertise in data management. In combination, IPG will offer long-standing transparency in its media practices.

"In a world where everything is becoming data-driven, Acxiom Marketing Solutions offers the deepest set of capabilities for helping companies navigate the complexity of creating personalized brand experiences across every consumer touchpoint," said Michael Roth, IPG's Chairman and CEO. “Combining AMS with a range of IPG assets will help us shape the future of our industry. Acxiom's leadership on data ethics is second to none, its business is solid and growing, and it has long played a foundational role in the marketing ecosystem.”

AMS offers data management, data strategy, analytics, and audience creation services, offering a wide variety of services for its customers. IPG’s advertising agencies include Deutsch, IPG Mediabrands, FCB, McCann, Huge, and R/GA.

Dennis Self and Rick Erwin will continue to serve as co-Presidents of AMS, which will remain as a standalone division working hand in hand with IPG Mediabrands, who will report to IPG Chief Data and Marketing Technology Officer Arun Kumar.

The acquisition will add a new unique segment to IPG’s portfolio, creating a new stream of revenue and earnings mix. The transaction will be accretive to IPG in the first year after close on an adjusted EPS basis.

The transaction is expected to close before the end of 2018. Acxiom shares rose by 15% shortly after the opening bell on Tuesday.