24/7 Media Inc., the New York-based interactive marketing company has merged with online advertising network Real Media Inc. for about $1.9 million in stock.
The new company is named 24/7 Real Media.
Under the terms of the agreement, stockholders of Real Media will be issued approximately 8.3 million shares of 24/7 Media stock. PubliGroupe, the former majority owner of Real Media will now own more than 15% of the new firm.
“This merger has both broadened and deepened our suite of products and service offerings. It makes us the strongest choice for advertisers and publishers in the online marketplace,” said CEO David J. Moore, in a statement.
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