WPP share price: Advertising giant to acquire Bannerconnect

on Feb 4, 2014
Updated: Apr 9, 2020
Listen

iNVEZZ.com, Tuesday, February 4: WPP Plc (LON:WPP), the world’s largest advertising company measured by revenue, announced yesterday that its wholly-owned operating company Xaxis had agreed to buy Bannerconnect, a trading firm based in the Netherlands. With this acquisition, Xaxis, which is the world’s largest programmatic media and technology platform, adds to its global capabilities a 40-plus person team and complementary technology offerings including the firm’s industry-leading Bright real-time optimisation platform.

In today’s trading WPP shares were 0.4 percent up at 1,270p as of 11:22 UTC.
**Bannerconnect**

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

Brian Lesser, CEO of Xaxis, commented on the purchase: “This acquisition will immediately enhance our technology capabilities and support our overall mission of empowering brands to reach relevant audiences wherever they access media.”

He also noted that Bannerconnect has created “proven programmatic technology” while also gaining experience developing campaigns for some of the largest advertisers in the world.
The Dutch company was founded in 2004 and employs about 40 staff. It has run campaigns for a number of global companies, including Mercedes-Benz, the BBC and ING, amongst others. According to yesterday’s announcement, Bannerconnect generated revenue of €4.3 million in 2013 and as of December 31, its gross assets were €8.3 million. The financial terms of the deal were not disclosed.

Xaxis intends to keep all of Bennerconnect’s staff, and the Dutch company will retain its brand identity and continue to operate as a separate unit under the Xaxis umbrella. Bannerconnect’s CEO Sebastian Schepers will continue to run the company.
Schepers commented: “This deal enables us to extend our footprint and the Bright platform to a much broader, worldwide market.”

**Xaxis**

Xaxis is a digital media platform that uses a combination of proprietary technology and data assets to programmatically connect advertisers and publishers to audiences across all addressable channels. It operates under WPP’s investment arm GroupM.
In December, Xaxis announced a merger with 24/7 Media, making the combined entity the largest programmatic media and technology platform in the world.

Last month, GroupM announced that it had agreed to acquire German digital media company plista, to bolster its digital specialist portfolio which already includes Xaxis and Quisma (WPP share price: Investment arm GroupM to acquire German media company).
These and a number of other deals over the past couple of months reflect WPP’s drive to strengthen its capabilities in digital media. The advertising group has set a target for at least 40-45 percent of its revenue to come from digital over the next five years.
**As of 12:44 UTC buy WPP shares at 1274.00p**
**As of 12:44 UTC sell WPP shares at 1272.00p**
Trade stocks with Hargreaves Lansdown from £5.95 per deal.
Prices can go up and down meaning you can get back less than you invest. This is not advice. Dealing services provided by Hargreaves Lansdown.

Ad

Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals™.

0/10
Learn more
Media Stock Market