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WPP Brings 24/7 Media into Xaxis
WPP has merged audience profiling and targeting division Xaxis with its digital marketing tech specialist 24/7 Media, to form what it says is the world's largest programmatic media and technology platform. The merged firm will keep the Xaxis name.
WPP says the new firm will employ more than 800 data and technology experts and will use its proprietary audience platform to programmatically manage more than $750m of audience-targeted media for more than 2,700 clients around the globe.
Xaxis was formed in 2011 by linking WPP's ad buying technologies with a proprietary database containing what the group described as the 'world's largest pool of audience profiles'.
Current Xaxis CEO Brian Lesser, will be CEO of the merged firm, while current 24/7 Media Chairman and CEO David J. Moore will become both Xaxis Chairman and President of WPP Digital.
The combination brings together the assets of two leading WPP companies - the buy-side expertise and audience-targeted media products of Xaxis with 24/7 Media's advertising technology and publisher focus.
Says Lesser: 'Much of the success of Xaxis has been a result of our strong technology partnership with 24/7. It's natural to now combine the skills of 24/7's engineers and data scientists with the programmatic media specialists at Xaxis. Together, we will create an unrivaled set of products for advertisers and publishers seeking to engage audiences in an
increasingly fragmented digital world.' Moore says publishers 'will now have the choice to eliminate value-diminishing middle layers by linking directly with the world's largest media buyer.'
Xaxis has 31 offices in 28 markets across North America, Europe, Asia Pacific and Latin
America.
WPP CEO Sir Martin Sorrell comments: 'This merger will enhance our ability to innovate by creating deeper data connections and streamlined technology resources.'
The deal will close in the first quarter of 2014. Web site: www.xaxis.com .
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