16th Apr 2007 09:39
WPP Group PLC16 April 2007 For Immediate Release 16 April 2007 WPP GROUP PLC ("WPP") WPP acquires stake in VideoEgg, US-based specialists in video advertising for online communities WPP announces that it has acquired a minority stake in VideoEgg Inc.("VideoEgg"), a company that specialises in video solution and video advertisingfor online communities. Founded in 2005, VideoEgg is based in San Francisco and employs 53 people.Clients include Unilever, Dell, NBC, Nestle and Universal. The gross assets acquired at the date of investment were US$3.5million. This investment further strengthens WPP's capabilities in digital media asVideoEgg sits at the nexus of three important trends that are radicallyimpacting our industry - online-video, user generated content and socialnetworking. It follows recent investments by WPP in LiveWorld and VisibleTechnologies. Contact:Feona McEwan, WPP T +44 (0)20 7408 2204www.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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