The agency won the business after a three-month pitch process and will co-ordinate international activity across eight markets. The majority of spend will be in the UK and Germany.
Polaroid's account was previously handled by Starcom Group but the company decided to hold the pitch as it pushes into emerging markets such as Russia and the Ukraine.
Polaroid is one of three new-business wins for MPG this year. The agency has a lot of ground to make up, having lost the £40 million Orange UK account last year, when it consolidated into Initiative.
MPG has been added to the Bulmers roster and will handle media planning and buying for the UK launch of the Magners cider brand.
And the agency's interactive arm, Media Contacts, has won the Agent Provocateur account as the brand aims to use the internet to drive sales.
MPG has also extended its relationship with TUI UK, having been awarded the £4 million assignment to work on the launch of the low-cost airline Thomsonfly.com from March.
Since losing the Orange account last October, MPG has stepped up its new-business efforts, with the responsibility for winning accounts passing to its joint managing director Marie Oldham. Although it held on to the global France Telecom assignment, based in London, it also lost its Expedia business late last year.
Oldham indicated that she wanted to make more of the agency's strengths, especially in econometric modelling. She said: "Having spent the first nine months last year focusing on France Telecom, we have now firmly turned our efforts to new business. We are very clear on our proposition and these wins demonstrate that clients buy into it."
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