WPP Group PLC, the world’s second-largest advertising and marketing conglomerate, announced that they are acquiring online advertising company 24/7 Real Media Inc. The deal, estimated at $649 million, will bring WPP within the path of Yahoo and Google. The former bought Right Media Inc. for $680 after Google’s acquisition of DoubleClick for $3.1 billion.
WPP Group PLC is going to pay $11.75 per share for 24/7 Real Media.
Originally posted on May 17, 2007 @ 3:13 pm
Its game on finally for Google. The head honcho at WPP, Sir Martin Sorrell, is ready for a battle. He use all his contentions to make sure that 24/7 wins the long term battle with Google’s Doubleclick buy.
When Google bought Doubleclick Sorrell was quoted as saying “Google is a short-term friend and a long-term enemy and probably the shorter term just got a little bit shorter and the longer term got a bit closer as a result of the DoubleClick acquisition”.
Game on!!!