WPP Buys Mobile Ad Serving / Measurement Firm Medialets

WPP has acquired New York-based mobile ad serving and measurement platform Medialets, for an undisclosed sum.

Founded in 2008, Medialets creates technology to help marketers manage and measure the complete return on investment of their mobile ad campaigns. The firm employs nearly 50 people from offices in NY, Los Angeles, Chicago and London.

Medialets CEO Eric Litman (pictured) told the Wall Street Journal that WPP wants to invest 'significantly' in understanding the currency of digital media, particularly in the light of the growing dominance of Facebook and Google in the mobile ad market. Litman also said in a memo to staff that WPP has committed to invest further resources to build Medialets' technology, including its ability to identify users and devices.

Medialets will continue to be operated as a separate company, independent from WPP's creative and media-buying businesses.

Web sites: www.wpp.com and www.medialets.com .