dapd Group Takes Over Gruner + Jahr Photo Agency Picture Press

BERLIN--(Marketwire - Mar 22, 2012) - With effect of April 1, 2012 dapd Group takes over the Gruner + Jahr photo agency Picture Press. The parties agreed not to reveal the purchase price. Gruner + Jahr and dapd Group also signed an exclusive, multi-year marketing cooperation agreement for the syndication business in the German market. This cooperation allows the two companies to work together to open up new marketing channels and optimize process synergies in the German picture agency business.

Picture Press has been one of the major and independent photo agencies in Germany since 1995, syndicating the photos of Gruner + Jahr. The agency provides pictures and illustrations in the top segment. Its partner agencies from all over the world include some of the best-known brands in the industry, including Camera Press and Eyevine (London), Mondadori (Milan and Paris), and Rizzoli (Milan). Picture Press has more than 200 photographers on its books. Its clients are professional image researchers from editorial teams, publishing houses, advertising and design agencies who attach great importance to special content and service. Picture Press sells their photos in over 26 countries and has a unique archive of more than 500,000 digitized images.

"As exclusive partner of Gruner + Jahr Picture Press can always offer the latest high-quality images of Europe's largest magazine publisher", says dapd CEO Dr. Martin Vorderwülbecke. "Our clients appreciate our comprehensive and up-to-date news photography. And the high-quality photo productions of Picture Press perfectly complement our portfolio."

Picture Press will be developed as a stand-alone brand, based in Hamburg. It will continue to focus on exclusivity, high quality of production, and outstanding service. Katharina Doerk and Ulf Schmidt-Funke, who are responsible for the business unit Photography within the dapd Group, will take over management of Picture Press.

Martin Borek, until now managing director of Picture Press GmbH, retires from the board and will continue his duties as head of content service and marketing.

Axel Wüstman, managing director G + J Operations: "I am pleased that we have found a powerful partner in dapd Group, one of the leading agencies, and a forward-looking solution for Picture Press in the highly competitive market."

Angermann M&A International GmbH has advised the company on the transaction.

About dapd news agency
dapd is one of the leading and fastest growing news agencies in Europe. It supplies its customers with complete worldwide coverage in text and image -- customers include most German daily newspapers, numerous periodicals and magazines, online media, TV and radio stations, political parties and governments. dapd emerged from German news agency ddp and the former German service of American news agency Associated Press (AP). The company headquarter is in Berlin. Further information go to www.dapd.de.