alarm:clock

Advertising - Thursday, May 17, 2007

WPP Gets Its Ad Server. Buys 24/7 Real Media For $649M

24:7 real.png
As we have been posting, 24/7 has been open to a buyout and the company last week disclosed that it had hired Lehman to rep it. There was speculation that Microsoft might be interested but one analyst wrote that 24/7's poor quarterly performance might have spoiled their chances with Redmond.

Today, the company agreed to be bought for $11.75 per share by advertising conglomerate WPP. The offer price represents a premium of 30% over the average closing price of 24/7 Real Media's shares for the last sixty 60 trading days.

At this point there remain a couple of large, public online ad networks that Microsoft could buy - aQuantive and Valueclick would top the list, but from what we understand Redmond is set on building its own business, combined with Yahoo as either a partner or a buyout, plus some smaller buyouts of private companies.

Read - announcement

Post a comment




Remember Me?


More Recent Articles

ThumbShopping Site Gilt Group Raises $40M at $400M Val

Thursday July 2, 2009

NYC's private shopping firm Gilt Groupe has raised $40M from General Atlantic and Matrix Partners at a $400M valuation. Gilt Groupe provides access, by invitation only, to men’s, women’s and children’s fashion and luxury brands at discount pri... Full Story

ThumbAH Belo Joins $2M Investment In Real Estate Search Tool Sawbuck

Thursday July 2, 2009

AH Belo (NYSE: BLC) has led a $2M investment in online real estate brokerage Sawbuck Realty. Sawbuck is an online real estate broker that connects consumers with local real estate agents. Sawbuck takes a cut of any commissions. The company’s servi... Full Story

Listen to alarm:clock

alarm:clock © 2004-2008

Swift Internet