Marketing services giant WPP Group will buy online advertising company 24/7 Real Media for US$649 million, a 30 per cent premium over the average share price during the past two months.
Microsoft had also been rumoured to be interested in 24/7.
Here’s the official announcement from WPP, and some commentary at thestreet.com.
Neil Sanderson / Microsoft finally gets an online ad company
18 May 2007[…] purchase comes only a day after WPP agreed to acquire 24/7 Real Media. Last month saw Yahoo’s purchase of RightMedia and the GoogleClick […]