LONDON--Advertising firm WPP PLC (WPP.LN) said Monday that it
has agreed to invest $25 million for a significant stake in
independent ad tech company AppNexus.
WPP, will inject the ad server platform (formerly part of Xaxis,
its wholly-owned media and technology platform) and invest $25
million in AppNexus, to enhance AppNexus' position as an
independent ad technology provider.
WPP, also announced that its operating company VML, has agreed
to acquire Teein, a social media agency in China for an undisclosed
sum.
WPP shares at 0808 GMT traded down 0.8% or 10 pence, at
GBP12.81, valuing the company at GBP16.88 billion.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
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