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By Laura Rich
Adding to its broad portfolio of new media investments, WPP Group PLC, London, has completed a minority investment in data mining company Hyperparallel.
WPP now holds a 15 percent stake in Hyperparallel, San Francisco, and maintains a seat on the company’s board. WPP has positioned the investment as new media-related, although Hyperparallel has yet to work in the Internet arena. Its main focus has been on manipulation of large quantities of data, as it did for Bank of America in a customer retention program and a behavior modeling project for Wal-Mart.
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