WPP Group PLC
16 April 2007
For Immediate Release 16 April 2007
WPP GROUP PLC ("WPP")
WPP acquires stake in VideoEgg, US-based specialists in
video advertising for online communities
WPP announces that it has acquired a minority stake in VideoEgg Inc.
("VideoEgg"), a company that specialises in video solution and video advertising
for online communities.
Founded in 2005, VideoEgg is based in San Francisco and employs 53 people.
Clients include Unilever, Dell, NBC, Nestle and Universal.
The gross assets acquired at the date of investment were US$3.5million.
This investment further strengthens WPP's capabilities in digital media as
VideoEgg sits at the nexus of three important trends that are radically
impacting our industry - online-video, user generated content and social
networking. It follows recent investments by WPP in LiveWorld and Visible
Technologies.
Contact:
Feona McEwan, WPP T +44 (0)20 7408 2204
www.wpp.com
This information is provided by RNS
The company news service from the London Stock Exchange
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