The WPP Group <\/strong>has signed an agreement to take over 24\/7 Real Media<\/strong>. The acquisition will strengthen WPP\u2019s position in the rapidly-growing digital marketing industry enhancing the Group\u2019s position in search marketing, digital media and adding strong technology skills. <\/p>\nUnder the terms of the deal WPP will buy all the 24\/7 Real Media shares at $11.75 per share, this represents a 30% increase on the average closing price of – the last sixty days of trading. The transaction has been approved by both boards of directors and is expected to be completed by the third quarter of 2007. <\/p>\n
Rationale for the Offer<\/strong><\/p>\n WPP believes that access to strategic advice, creativity, high quality information and specialist communication skills is critical to providing clients with comprehensive advertising, media investment management and marketing services solutions. <\/p>\n 24\/7 Real Media is a leading company in the global digital marketing industry. Its business spans three key sectors in the rapidly-changing digital media industry – media, search and technology:<\/p>\n – its media<\/strong> business is one of the largest CPM-based media networks with more than 950 participating sites and 115 million monthly unique users worldwide.<\/p>\n – its search<\/strong> business provides clients with strategic advice and consulting on search engine optimisation (SEO) and search engine management (SEM) as well as shopping comparison services.<\/p>\n – its technology<\/strong> business offers the number 2 publisher-side advertising management platform to more than 400 clients. <\/p>\n In April of this year, 24\/7 Real Media announced the Mobile Edition<\/strong> of their Open AdStream<\/strong> ad serving platform, highlighting their belief in the future of mobile advertising. Read the press release about the mobile edition HERE<\/a>.<\/p>\n