WPP has acquired 24/7 Real Media, beating Microsoft's $1 billion offer in a deal valued at $649 million.

Yesterday, WPP CEO Martin Sorrell said his firm would keep Google in check with small and medium acquisitions in digital.

"Our clients and therefore our industry are becoming more technology driven," Sorrell said. "24/7 Real Media significantly enhances our capabilities, technological resources and talent, as well as adding to our geographic coverage and our measurable skills."

While the acquisition will give WPP access to technology developed by 24/7, Dana Ghavami, CEO of CheckM8, said the deal could change the industry dynamic. 

"Most of these vendors will no longer be developing technology to benefit clients," Ghavami said. "They'll be developing technology to benefit their new parent. Larger clients that have been accustomed to getting great products and great services from these vendors might be facing a new reality in which they have now become second tier clients."