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WPP to acquire Schematic

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Published September 10, 2007 at 3:27 PM

And now, the rest of the story. Last week we mentioned that British advertising agency WPP Group plc was set to announce a U.S-based acquisition. As it is wont to do, the New York Post ran full steam ahead with speculation that WPP could be targeting Spot Runner Inc., an Internet firm that helps small and local businesses produce television ads. But the London firm said today it would acquire interactive design company Schematic Inc. Terms of the deal were not disclosed, though back in May, when WPP spent $649 million to acquire online advertising agency 24/7 Real Media Inc., Valleywag.com reported on WPP's negotiations with Schematic and said it would pay $40 million up front and up to $60 million more if certain targets were met. —David Shabelman

See WPP press release
See Sept. 7 blog from Tech Confidential  

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