WPP, headed by chief executive Sir Martin Sorrell, has acquired a 65% stake in the agency through its wholly owned relationship marketing network rmg:connect. WPP has also entered into options to acquire the balance of the company.
Founded in 1980 and based in Stuttgart, MDM has a strong reputation for direct marketing and below-the-line services, and has specific expertise in the automotive sectors, mail-order houses and publishing companies.
The agency's clients include Gruner+Jahr, Reader's Digest and a member of the Otto mail order group.
MDM employs 50 people and had revenues of €6.9m (£4.8m) for the year to December 31 2002 and net assets of €701,000.
In a statement, WPP said: "The acquisition continues WPP's strategy of developing its direct, promotion and relationship marketing businesses through a combination of acquisition and organic growth."
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