Acquisition
WPP Group PLC
13 July 2007
FOR IMMEDIATE RELEASE 13 July 2007
WPP Completes Acquisition of 24/7 Real Media
_______________________________________
New York, NY, and London, England, July 13, 2007 - WPP Group plc (NASDAQGS:
WPPGY) (LSE:WPP.L) ("WPP") today announced the completion of its acquisition of
24/7 Real Media, Inc. ("24/7 Real Media").
WPP's acquisition of 24/7 Real Media was structured as a cash tender offer for
all the outstanding shares of common stock of 24/7 Real Media followed by a
merger of a WPP subsidiary into 24/7 Real Media. In the merger, outstanding 24/7
Real Media shares that were not tendered in the tender offer were converted into
the right to receive $11.75 per share, in cash, without interest.
As a result of the merger, 24/7 Real Media is now an indirect-wholly owned
subsidiary of WPP.
Contact:
Feona McEwan, WPP T +44 (0)20 7408 2204
Fran Butera, WPP T +1 212 632 2200
www.wpp.com
About WPP
WPP is one of the world's leading communications services groups. Through its
operating companies it provides a comprehensive range of communications
services. These services include: advertising; media investment management;
information, insight and consultancy; public relations and public affairs;
branding and identity, healthcare and specialist communications. The Company
employs approximately 100,000 people (including associates) in 2,000 offices in
106 countries, providing communications services to more than 300 of the
companies that comprise the Fortune 500, over one half of the companies that
comprise the NASDAQ 100 and more than 30 of the companies that comprise the
Fortune e-50.
About 24/7 Real Media
24/7 Real Media is a leading global digital marketing company, empowering
advertisers and publishers to engage their target audiences with greater
precision, transparency and ROI. Using its award winning ad serving, targeting,
tracking and analytics platform, powerful search marketing capabilities and
global network of specialized Web sites, the company has turned the art of
reaching audiences across virtually any digital medium into a measurable
science. The company is headquartered in New York, with 20 offices in 12
countries throughout North America, Europe and the Asia Pacific region. For
more information, please visit www.247realmedia.com.
24/7 Real Media: The Science of Digital Marketing.
24/7 Real Media is a member of the NAI and adheres to the NAI privacy principles
that have been applauded by the FTC. These principles are designed to help
ensure Internet user privacy. For more information about online data collection
associated with ad serving, including online preference marketing and an
opportunity to opt-out of 24/7 Real Media cookies, go to:
www.networkadvertising.org.
Forward-looking Statement
This release includes statements that are, or may be deemed to be,
"forward-looking" statements. These forward-looking statements can be identified
by the use of forward-looking terminology, including inter alia the terms
"believes", "plans", "expects", "may", "will" or "should" or, in each case,
their negative or other variations or comparable terminology.
These forward-looking statements include matters that are not historical facts
and include statements regarding WPP's intentions, beliefs or current
expectations concerning, among other things, WPP's results of operations,
financial condition, liquidity, prospects, growth, strategies, the outlook for
relevant markets and the acquisition of 24/7 Real Media. By their nature,
forward-looking statements involve risk and uncertainty because they relate to
future events and circumstances. A number of factors could cause actual results
and developments to differ materially from those expressed or implied by the
forward-looking statements. Forward-looking statements may and often do differ
materially from actual results. Any forward-looking statements in this release
reflect WPP's view with respect to future events as of the date of this release
and are subject to risks relating to future events and other risks,
uncertainties and assumptions relating to WPP's operations, results of
operations, growth strategy and liquidity.
Except as required by relevant law or regulation, WPP undertakes no obligation
publicly to release the results of any revisions to any forward-looking
statements in this release that may occur due to any change in its expectations
or to reflect events or circumstances after the date of this release.
Information in this release should not be relied upon as a guide to future
performance.
This information is provided by RNS
The company news service from the London Stock Exchange
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