• by Steve McClellan  @mp_mcclellan, December 6, 2011

WPP’s digital marketing technology firm, 24/7 Real Media, has agreed to acquire the assets of Panache, the Los Angeles-based provider of digital video advertising services.

Founded in 2006, Panache focuses on the premium publisher market, helping clients grow their digital video advertising capabilities, a fast-growing segment of the business. Clients include CBS, Fox News, MTV Networks and the UK's Channel 4.

Panache will be integrated into 24/7 Real Media’s Open AdStream advertising management platform, per WPP.

24/7 Real Media now operates in 18 offices in 12 countries globally. Its technology platform powers its own media businesses and those of some global publishers as well as WPP's digital audience buying companies, Xaxis and the Media Innovation Group.

Overall, 24/7 Real Media manages $1 billion of digital advertising expenditure through its technologies, WPP said. WPP’s digital revenues account for an estimated $4.5 billion and nearly 30% of its projected 2011 revenue of $16 billion.