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WPP deal

Published on .

WPP Group, London, has entered into partnership with a U.S. investment company specializing in information and entertainment technology start-ups as part of its strategy to build a presence in new media. Media Technology Ventures, San Francisco, will focus on investments in digital media companies that create and distribute content and marketing messages in areas such as direct marketing, electronic commerce and software tools. The move brings WPP's financial involvement in new media to $10 million; it has already invested funds into Web site service HotWired, relationship marketing Internet software developers BroadVision and Individual Inc. "By taking this approach, we will be able to build a significant number of strategic relationships with appropriate partners," says Martin Sorrell, WPP chief executive.

Copyright October 1996, Crain Communications Inc.

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