MUMBAI: Fortifying its position in the Swiss ad market, global media group Havas Media has acquired its majority stake in Zurich based media group Mediaxis MPG.

Havas Media and MPG have been associated for the past nine years. The majority stake is in effect from today.

Mediaxis MPG will remain the group‘s main operational brand and founder Peter Hofstetter will continue as chairman and member of executive committee. The management of the company will remain on board as key elements on the new long-term joint expansion plan.

Mediaxis MPG is a qualitative media agency with a client list that includes Reckitt Benckiser, Danone, Lindt, Barclays and Hermes.

Havas Media CEO Alfonso Rod?©s said, "The Swiss market is a key market for Havas Media and I am delighted that following a prosperous nine year relationship, the management team have decided to further commit to the group and officially join our other 122 markets worldwide."

Mediaxis MPG chairman Peter Hofstetter added, "We have all prospered as a result of our partnership and joining the Havas Media team is a natural step in further strengthening the group‘s operations in the Swiss market. The existing management team have committed to driving this group forward and look forward to continuing to benefit from Havas Media‘s tools and wider thought leadership activity such as its Meaningful Brands framework."