WPP takes minority stake in rich media tech player

SHANGHAI - WPP Digital, the digital investment arm of WPP, has acquired a minority stake in HDT Holdings Technologies, a rich media advertising and technology company.

HDT was founded in 1999 and has offices in  Shanghai, Beijing and GuangZhou, employing over 270 people.

HDT’s product portfolio includes iCast, a rich media ad-serving  product with distribution agreements with all major portal and vertical sites in China; iStreaming, a video ad-serving product which has distribution agreements  with all major video sites in China; iFocus, a contextual targeting advertising product; and T2C, an advertising network with over 200,000 sites delivering 150 million page views per day.

WPP joins existing investors CA-JAIC China Internet Fund, Cheng Wei Ventures, Manitou Ventures and Sequoia.