IPG media brands, a global media holding company of The Interpublic Group of Companies, Inc. (IPG), and Millennial Media (MM) – a leading mobile advertisement platform company, recently formed a year-long global strategic partnership to deliver data-driven mobile solutions. However, the announcement of this deal had minimal effect on share prices of both the companies and remained relatively flat on the following day.
The deal covers all of Interpublic's creative, digital, marketing services and media agencies. With this agreement, Interpublic’s Cadreon — the centrally automated buying platform — will be integrated with Millennial Media's programmatic (automated) advertisement offerings. Also, Interpublic agencies and their clients will get access to Millennial Media's resources to achieve greater efficiencies. This partnership will leverage the power of mobile real-time bidding (RTB) technology, delivering superior targeting and retargeting and programmatic inventory.
According to Millennial Media research, approximately 75% of advertisers are buying programmatically, 57% of which are doing it on mobile. The strategic partnership is aimed towards innovation and collaboration on new relevant solutions for global clients.
Interpublic, together with its subsidiaries provides advertising and marketing services worldwide and is the third largest advertising company in the world. It offers a range of advertising and marketing communication services, as well as marketing services; along with public relations, meeting and event production, sports and entertainment marketing, corporate and brand identity, and strategic marketing consulting services to a broad list of customers in more than 100 countries.
Interpublic currently has a Zacks Rank #3 (Hold). Better-ranked stocks in the industry that are worth a look include Coupons.com Inc. (COUP) and Hipcricket, Inc (HIPP), both carrying a Zacks Rank #2 (Buy).
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