Ad giant WPP’s newest deal isn’t an acquisition, but an investment in Invidi Technologies, a Princeton-based company which “which specialises in developing targeted ads for broadband television,” the NYT says:
WPP is making the investment through its media unit, GroupM, which includes agencies like MediaCom, Mediaedge:cia and MindShare. Irwin Gotlieb, chief executive at GroupM in New York, will join the Invidi board.
WPP is one of four companies investing $25 million in Invidi. The others, which invested in Invidi in two previous rounds of financing, are: EnerTech Capital in Wayne, Pa.; InterWest Partners in Menlo Park, Calif.; and Menlo Ventures, also in Menlo Park.
The deal is the most recent in a digital shopping spree by WPP, which also owns agencies like Grey Group, JWT, Ogilvy & Mather and Y&R. Recent acquisitions by WPP in the interactive realm include Blast Radius, Schematic and 24/7 Real Media.
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