M&A in the Digital Ad Sector is Smoking Hot: Who's Next? - Seeking Alpha

"A list of recent M&A in the sector is below. But first, here are the single folks still waiting to be scooped up:
aQuantive (AQNT), Valueclick (VCLK), Burst Media, and AdPepper, the latter two of which trade on London's AIM. How much might the U.S. ones go for? AQNT is worth $44 if you use the 24/7 Real Media, Inc. (TFSM) take-out multiple (23x), $60 if you use the DoubleClick multiple (33x), and $75 if you use the Right Media multiple (10x EV/Revs). VCLK is worth $44 if you use the TFSM multiple, $66 if you use DCLK, $70 if you use Right Media. And then of course there are all the private beauties: Blue Lithium, Tacoda, Efficient Frontier, Did-It, etc. Go to it, bankers!
Recent Digital Advertising M&A
Google (GOOG) for Doubleclick: $3.1b cash (32x '07 EBITDA - my estimate) - ad serving, SEM, affiliate network
Publicis (PUB) for Digitas: $1.3b cash (16x '07 EBITDA) - digital ad agency
Yahoo (YHOO) for 80% Right Media: $680m cash & stock - implied value = $850m (10x revs - rumored value) - ad media exchange
WPP (WPPGY) for 24/7 Real Media: $649m cash (23x '07 EBITDA) - media network, ad serving, SEM
aQuantive for Accipiter: $30m - publisher side ad server
aQuantive for Duke Digital Marketing: $8m + earnout - European digital ad agency
AOL (TWX) for AdTech: terms undisclosed - European ad server
Aegis for Trigger Communications: terms undisclosed - digital ad agency
Fox Interactive Media (NWS) for Strategic Data Corp: terms undisclosed - publisher side ad server and site optimization
Doubleclick for Falk eSolutions: terms undisclosed - European ad server"