Picture Press has been acquired by dapd Group
The dapd Group has acquired the renowned picture agency Picture Press from Gruner + Jahr AG & Co. KG for an undisclosed consideration.
Picture Press offers rights-managed and royalty-free images and illustrations for professional image researchers in editorial departments, advertising and design agencies. The increasing amount of digital pictorial material worldwide resulted in a continuous deterioration of turnover. This joint venture will increase sales and will broaden its activities.
The dapd Group covers all aspects of the news world with a regional and international correspondence network as well as text, picture and graphic online and mobile services.
The Gruner + Jahr printing and publishing company is Europe’s largest magazine publisher and generates higher turnover than any other German publishing house. Besides this transaction, Gruner + Jahr and dapd Group have agreed to an exclusive marketing cooperation in the syndication business on the German market.
Oaklins' team in Germany advised the seller in this transaction.
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