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NEW YORK WPP Group said it would acquire online ad company 24/7 Real Media in a $649 million deal.
The acquisition, which values 24/7 Real Media’s shares at $11.75 each, would bring WPP various digital advertising assets. In addition to a strong search-marketing business, 24/7 Real Media operates an ad network that sells space for 950 publishers. It also has a publisher-side ad server, helping sites like Forbes.com and USAToday.com present and track ads.
The acquisition is a departure in that it will enmesh WPP deeper into the publishing and technology business.
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