Acquisition
06 October 2003 - 8:40PM
UK Regulatory
RNS Number:5522Q
WPP Group PLC
06 October 2003
FOR IMMEDIATE RELEASE 6 October 2003
WPP GROUP PLC ("WPP")
rmg:connect acquires MDM in Germany
WPP announces that its wholly owned operating company rmg:connect, the leading
relationship marketing network, has acquired 65% of the issued share capital of
the German agency, MDM Mungenast Dialog Marketing ("MDM"), and has entered into
options to acquire the balance.
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. Clients include:
Gruner&Jahr, Reader's Digest and a member of the Otto mail-order house-group.
MDM employs 50 people and had revenues of euros 6.9 million for the year ended
31 December 2002 and net assets of euros 701,000 as at the same date.
This investment continues WPP's strategy of developing its direct, promotion and
relationship marketing businesses through a combination of acquisition and
organic growth.
For further information, please contact:
Feona McEwan, WPP 44-20 7408 2204
www.wpp.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQILFVIIDLRIIV