Report: WPP To Acquire Omniture Stake
Jan 29, 2009, 7:45 AM
WPP Group today is expected to announce a strategic investment in publicly traded Web analytics firm Omniture, reports The Wall Street Journal. The deal, which would involve a $25 million stake in Omniture's common stock, would include the development of new analytical tools combining some of Omniture's products with some of WPP's, according to anonymous sources cited by the paper. Ominture's stock closed Wednesday at $9.61 a share, up 4% for the day. WPP's stock closed at $31.26, up 7%. It was unclear from the report whether new analytics stemming from the deal are intended to be proprietary for WPP and its agencies and clients, or whether they would be new products for the online marketplace, but WPP also has been diversifying more broadly into the world of research and analytics, recently acquiring Taylor Nelson Sofres and expanding its Kantar Research operations, as well.