Outdoor advertising specialist Ooh Media has bought indoor advertising outfit Executive Channel for $68.5 million.
Executive Channel’s core strength is that it owns the advertising distribution in the lifts and other screens of some of the countries premium CBD high rise properties.
The announcement of the deal was first flagged when Ooh media announced a trading halt on its stock on the ASX earlier today.
According to Ooh Media CEO Brendan Cook, “”The acquisition further enhances our position as Australia’s largest reaching digital sign network and consolidates our number one position in the CBD office segment.”
The company has been on something of an acquisition binge in recent times having acquired Junkee Media and Cactus Imaging this year.
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Its fortunes are rising as it taps into the growing location based marketing trend fuelled by the proliferation of smart phones and other uniquely identifiable devices.