Pepper, an agency with expertise in business-to-business, finance, automotive and IT has 115 people in its offices in Munich, Chicago and Singapore.
The agency gives Iris another foothold in central Europe, as well as boosting its presence in Singapore and North America with its first office in the Midwest. The acquisition will bring Iris' offices to 17.
Markus Dunz, the managing director of Pepper, will join Iris’ European Union board alongside Steve Bell, the Europe chief executive. The global creative directors, Shaun McIlrath and Sean Reynolds, will continue to lead the networks’ creative output.
Iris opened its first office in South America in December 2013 with the acquisition of the local market leader, Router, in Sao Paulo. Also last year, the agency bought the specialist data analytics and management company Datalytics to further strengthen its insight-led creative team.
Prior to its acquisition by Iris, Pepper was part of the Computershare Group, a global leader in share registration, financial and communication services.
Bell said: "Germany is a key market for us, and with some of our clients' HQs in the region, coupled with Pepper’s complementary expertise in B2B and B2C, makes them an interesting property for us to join forces with."
No one at Iris would comment on the terms of the acquisition.