WPP Group has purchased a majority holding in German direct marketing shop MDM Mungenast Dialog Marketing.
The London-headquartered holding company has acquired a 65% stake in MDM via its rmg:connect subsidiary. WPP also has options to gain the outstanding shares.
Said the agency giant: "The acquisition continues WPP's strategy of developing its direct, promotion and relationship marketing businesses through a combination of acquisition and organic growth."
Stuttgart-based MDM specialises in marketing for auto firms, publishers and mail-order groups. Clients include Reader's Digest and Gruner & Jahr.
Data sourced from: BrandRepublic (UK); additional content by WARC staff