WPP Group media agency MindShare has bought UK media planner Michaelides & Bednash. Terms of the deal weren’t disclosed. The media planner will be folded into MindShare’s Invention group, which handles digital content, programming, sponsorship and planning. M&B’s founders, George Michaelides, Graham Bednash and managing partner Paul O’Neill, will take a lead role in further developing Invention. They will be working with lead MindShare digital exec Norm Johnston. All M&B staff will now transfer to Mindshare to work within the Invention group. Michaelides & Bednash will no longer continue to operate as an agency.

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The purchase was designed to buttress MindShare’s move earlier this year to restructure the agency by focusing the previous 12 existing departments into to four broad units: Client Leadership; Business Planning; Invention and The Exchange, Mindshare’s trading arm. In addition to helping run Invention, the new team will also create a dedicated unit for MindShare client Unilever, one of the largest packaged goods marketers and an advertising bellwether. Release