Grey Direct, New York, has announced the purchase of database marketing company MarketData Solutions, which it will combine with its existing Grey Database Strategies unit to form a new $25-million global operation with offices in 5 countries. The new company will assume the MarketData Solutions brand name and launch with clients Chase Manhattan bank, Liberty Mutual Insurance and Glaxo-Wellcome Pharmaceuticals.
George Wiedemann, chairman /CEO of GreyDirect, said the new MarketData Solutions company was formed as a means of bringing all the agency's database marketing assets together in preparation for the emergence of more relationship marketing globalization.
The new MarketData Solutions company will operate as an independent brand from Grey Direct under Ken Lomasney, president/worldwide. Terms of the transaction were not disclosed.