oOh!media Limited
(ASX:OML) has entered a deal to acquire Executive Channel International for $68.5M.
oOh!media Is an ‘Out of Home’ advertiser in Australia and NZ, while Executive Channel operates a network of digital displays, typically found in CBD office towers and car parks around Australia.
The company says this acquisition will create a combined network of over 3,500 displays reaching a premium business audience of over 1.8 million people each week.
The company says the deal will also enhance its digital market leadership, especially in the CBD office segment.
oOh! will be in a trading halt today, and resume trading tomorrow. This transaction is expected to complete by the end of this month.
oOh!media reported a net profit of $6 million at 30 June 2016.
