Make us your home page

St. Petersburg-based Triad Retail Media bought for reported $300 million

Triad CEO Roger Berdusco expects more  growth.

Triad CEO Roger Berdusco expects more growth.

ST. PETERSBURG — British advertising and public relations giant WPP has bought Triad Retail Media, a fast-growing St. Petersburg-based company that helps retailers sell ads on their websites.

Terms of the deal were not disclosed, but the Wall Street Journal online said the sales price was roughly $300 million, citing people familiar with the matter.

Founded in 2004 as an independent company, Triad nearly four years ago was bought by Rockbridge Growth Equity LLC, a private equity firm founded by Detroit billionaire Dan Gilbert. Under the deal announced Thursday, it will become part of WPP 's digital ad-buying group Xaxis.

Like Rockbridge, Xaxis is expected to continue running Triad as a stand-alone operation with current management kept intact.

Triad helps major retailers such as Walmart, eBay, CVS, Sam's Club, Staples and Kohl's sell ads while it is also paid by major brands to create ads. According to the company, more than 1,500 of the world's largest advertisers use its creative, data and production solutions to connect with shoppers.

Since Rockbridge and Triad came together in late 2012, Triad's revenue and profits have more than tripled.

Over the past decade, Triad has grown revenues at 25 to 30 percent every year, most recently increasing gross revenue from $366 million in 2014 to $502 million in 2015. It currently employs nearly 700 people in 14 offices worldwide, including 400 in the Tampa Bay area.

Triad Retail Media CEO Roger Berdusco said that "robust growth" — and ongoing hiring spree — is expected to continue under its new parent.

"Media is moving more and more from traditional to digital, and that's fueling our growth," Berdusco said in an interview with the Tampa Bay Times.

WPP will help Triad by exposing it to both new technologies and new markets overseas.

WPP's "deep bench of technologists" can be leveraged to develop new advertising products for video and mobile in particular, Berdusco said.

Geographically, the opportunity is equally strong. WPP is in 115 countries; Triad is in four: the U.S., United Kingdom, Australia and the Netherlands.

WPP has been following Triad for a decade, Berdusco said, but talks about an acquisition for WPP's Xaxis unit "heated up about a year ago" after executives visited the St. Petersburg campus.

Xaxis CEO Brian Gleason said the deal seizes on a changing retail landscape. "The retail media industry will become a final touch-point between the consumer and transaction," he said. "The closer we can bring brands to that relationship is pivotal for us."

Contact Jeff Harrington at Follow @JeffMHarrington.

St. Petersburg-based Triad Retail Media bought for reported $300 million 10/13/16 [Last modified: Thursday, October 13, 2016 6:20pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Pinellas construction licensing board needs to be fixed. But how?

    Local Government

    LARGO –– Everyone agrees that the Pinellas County Construction Licensing Board needs to be reformed. But no one agrees on how to do it.

    Rodney Fischer, former executive director of the Pinellas County Construction Licensing Board Rodney, at a February meeting. His management of the agency was criticized by an inspector general's report. [SCOTT KEELER   |   Times]

  2. New owners take over downtown St. Petersburg's Hofbräuhaus


    ST. PETERSBURG — The downtown German beer-hall Hofbräuhaus St. Petersburg has been bought by a partnership led by former Checkers Drive-In Restaurants president Keith Sirois.

    The Hofbrauhaus, St. Petersburg, located in the former historic Tramor Cafeteria, St. Petersburg, is under new ownership.

  3. Boho Hunter will target fashions in Hyde Park


    Boho Hunter, a boutique based in Miami's Wynwood District, will expand into Tampa with its very first franchise.

    Palma Canaria bags will be among the featured items at Boho Hunter when it opens in October. Photo courtesy of Boho Hunter.
  4. Gallery now bringing useful art to Hyde Park customers


    HYDE PARK — In 1998, Mike and Sue Shapiro opened a gallery in St. Petersburg along Central Ave., with a majority of the space dedicated to Sue's clay studio.

     As Sue Shapiro continued to work on her pottery in St. Petersburg, her retail space grew and her studio shrunk. Now Shapiro's is bringing wares like these to Hyde Park Village. Photo courtesy of Shapiro's.
  5. Appointments at Raymond James Bank and Saint Leo University highlight this week's Tampa Bay business Movers & Shakers



    Raymond James Bank has hired Grace Jackson to serve as executive vice president and chief operating officer. Jackson will oversee all of Raymond James Bank's operational business elements, risk management and strategic planning functions. Kackson joins Raymond James Bank after senior …

    Raymond James Bank has hired Grace Jackson to serve as executive vice president and chief operating officer. [Company handout]