WPP is in talks to acquire a stake in media monitoring and analysis specialist Press Index, in a deal which would involve buying 87% of the outstanding shares in the company from its founders and other sellers.
Press Index was launched in 1997 as a traditional press cuttings agency, but has since evolved into a multimedia monitoring organisation which offers a full suite of services including social media tracking. The company, which is led by CEO Manuel Zebeida (pictured), is headquartered in France, with additional offices in the UK, Italy and Spain.
If the transaction completes, WPP will initiate an all-cash tender offer to acquire the remaining outstanding shares of Press Index. The price per share would be EUR 6.81 in cash, which currently values Press Index at approximately EUR 11.2m.
Web sites: www.wpp.com