WPP has invested over $25m to take a ‘significant’ stake’ within ad tech company, AppNexus.
The investment into AppNexus will include the contribution of the use of its Xaxis for Publishers (XfP) real-time buying technology, as well as the financial input.
Staff from XfP will also join AppNexus under the deal in order to strengthen its strategy.
Announcing the deal, a statement from WPP, explained: “This deal enables Xaxis to focus development resources on its core data technology and media products, while more closely aligning with a strong, independent ad serving partner. Xaxis will continue to develop its own robust proprietary platform including its Turbine DMP, analytics suite, and reporting and optimization technology.”
AppNexus currently employs around 600 people, with a base in New York and a further 10 offices globally and a value of $1.2bn, delivering over 30 billion ad impressions a day and a forecast in advertising spend for this year of over $2bn.