Panache, a Los Angeles provider of online advertising software and services, has been acquired by 24/7 Real Media Inc.

Panache was founded in 2006 and is led by President Steve Robinson. It offers a variety of digital video ad formats to marketers and advertisers. Its customers include Fox News, CBS and MTV Networks. 24/7 Real Media is the New York City digital marketing technology arm of Dublin, Ireland-based WPP Plc., a global advertising company. It said it will incorporate Panache’s technology into its own Open AdStream platform.

“Panache’s technology capabilities and extensive selection of video ad formats are unmatched in the industry,” said 24/7 Chief Executive David J. Moore in a statement. “The addition of these assets to 24/7 Real Media’s robust offerings will empower us to satisfy the large and growing appetite for video in the digital advertising marketplace.”

Terms of the deal were not disclosed. Panache employs 17 people. The announcement did not say whether any local operation would remain.