Wegener DM Business Data Solutions was the only B2B division within Wegener.
Steve Cook, Market Location manager, said: "Wegener has given us a solid foundation from which to continue our business going forward and we are now looking forward to increasing investment in our data, systems and people even further."
Market Location already owns and manages B2B data within its PrimeFile Plus database. However, the firm is preparing to launch a new data service that it claims will "dramatically change and challenge the old established methods of B2B data management and collection".
For former parent Wegener DM, the sale of its B2B division will enable it to focus on providing clients with business-to-consumer data.
Otto Oosterwijk, Wegener's chief executive, said: "Just as Wegener is now able to focus on its chosen core activity, the rebranded Market Location can do the same in its own area of expertise.
"Indeed, we expect to continue to work closely together, not least on products such as the award-winning REALsoho database, an innovative combination of business and consumer data, which enables clients to accurately target small businesses with home-based offices."
Market Location was originally established in 1972. It became part of the Dudley Jenkins Group in 1993, which was acquired by Wegener DM in 1999 and rebranded as Wegener DM Business Solutions. The firm employs 27 people and clients include BT, Dell, EDF Energy and Microsoft.
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