WPP Buying 24/7 Real Media for $649m
It looks like Microsoft has lost out again, in its quest to buy an internet advertising firm. This time, UK advertising company WPP Group has snuck in and picked-up 24/7 Real Media – a company MSFT had reportedly been in talks with – for $649 million or $11.75 a share – 45% premium on TFSM’s share price two months ago.
“The TFSM team has long experience in the industry and has developed one of the most sophisticated and robust Internet technology platforms, that has enabled the business to deliver strong revenue growth, particularly in 2005 and 2006,” WPP said in a statement.
Microsoft is starting to run out of options. While there are plenty of online advertising companies out there, waiting for MSFT to call, its looking like late in the day of an NFL draft – sure, there’s still some talent out there, but the big names are have already been picked.
So, who do you think Microsoft should look at next?