WPP has purchased digital marketing firm 24/7 Real Media for $649 million (£329 million) in a move intended to strengthen its position in the digital market sector.
The deal follows Google’s acquisition of Doubleclick for $3.1 billion (see
Google Acquires Doubleclick For £3.1 Billion) and Publicis Groupe’s purchase of the US digital marketing company Digitas for $1.3 billion (see
Publicis Buys US Digital Marketing Firm).
Sir Martin Sorrell, WPP chief executive, said: “Our clients and therefore our industry are becoming more media and technology driven,” said Sir Martin Sorrell, the WPP chief executive.
“24/7 Real Media significantly enhances our capabilities, technological resources and talent, as well as adding to our geographic coverage and our measurable skills.”
David J. Moore, chairman and chief executive of 24/7 Real Media, said: “This transaction will greatly strengthen our product offerings and will be highly beneficial to clients of both companies.
“24/7 Real Media will remain the largest, publisher-focused technology company in the sector, with the second-largest installed base of ad-serving technology clients globally, and working as part of WPP will be a tremendous benefit to our ad-serving and global web alliance clients.”
Following Google’s acquisition of Doubleclick in April, Sorrell expressed concern over how much data the two companies would have access to (see MediaTelINSIGHT Interview:Ovum Analyst Discusses The Future Of Google).
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