Yahoo! Inc. and WPP’s GroupM, 24/7 Real Media and WPP Digital announced a strategic partnership that will enable WPP agencies to buy digital display advertising across the Internet more efficiently than ever before. The partnership will initially involve a collaboration between Yahoo! and WPP’s GroupM and 24/7 Real Media.

As part of the agreement, WPP agencies, working through 24/7 Real Media, will develop a proprietary media trading platform that connects to Yahoo!’s Right Media Exchange. WPP agencies will work with 24/7 Real Media to integrate their proprietary targeting capabilities into the platform and develop custom trading strategies, which can be seamlessly executed via the Right Media Exchange on a highly targeted and cost-effective basis.

WPP will also work with Yahoo! to develop a WPP marketplace, giving WPP’s agencies even greater access to inventory, visibility across the market and insight into value. WPP intends to draw inventory for the WPP marketplace from Yahoo!’s owned- and-affiliated networks and 24/7’s Global Web Alliance. The marketplace would also be open to third-party publishers.