WPP’s digital ad-buying group Xaxis has acquired Triad Retail Media, which helps retailers sell ads on their websites. Triad was purchased from private-equity firm Rockbridge Growth Equity LLC. While terms of the transaction weren’t disclosed, people familiar with the matter say Xaxis bought Triad for roughly $300 million. Xaxis said it’s the largest deal it’s ever done, without disclosing specifics. Triad helps retailers like Wal-Mart create ad units to sell ads on their e-commerce sites, and it also gets paid by brands to create the ads. Many of those brands are consumer-packaged-goods companies that are selling products in the stores.
Read more from the Wall Street Journal here.
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