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WPP To Invest $25 Mln In AppNexus - Quick Facts

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.

by RTTNews Staff Writer

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