Communications services group WPP PLC (WPP.L,WPPGY) Monday said it will invest $25 million in AppNexus, a Newyork-based ad tech company, to step up AppNexus' position as the world's largest independent ad technology provider.
The transaction, which is expected to close by year end, forms a part of WPP's strategy of investing in fast-growing sectors such as ad technology and programmatic media buying.
Currently, AppNexus is valued at $1.2 billion and has revenue of more than $100 mln. It delivers more than 30 billion ad impressions per day and projects annual spending across its platform to be more than $2 billion in 2014.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.