Digital ad shop is sold

It's L.A.-based Schematic, which is hired by media companies and advertisers to handle all kinds of interactive assignments. WPP, the giant British advertising conglomerate, is the buyer (details of the all-cash deal not disclosed, but the company generated $30 million in revenues last year). Several suitors were apparently in the picture, but WPP was chosen because under the deal Schematic will remain a stand-alone unit. Also, senior management gets a five-year earn-out, which could mean a bunch of money if the company does better than expected. From the NYT:

The agency works for advertisers and media companies like Coca-Cola, Condé Nast Publications, Walt Disney, NBC Universal, Target and Time Warner. For instance, for Vogue magazine, published by Condé Nast, Schematic helped design a broadband channel (shopvogue.tv), which offers computer users video clips of fashion shows, information about fashion and a chance to buy the products appearing in the ad pages of the print edition of Vogue.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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