oOh!media Limited (ASX:OML) ( oOh!media) today welcomed the Australian Competition and Consumer Commission’s ( ACCC) decision that it will not oppose oOh!media’s acquisition of 100% of the share capital in Adshel from HT&E Limited.
oOh!media CEO, Brendon Cook, said the acquisition was an important turning point for the Australian Out of Home industry’s competitiveness in the Australian media market.
“For oOh!media, the acquisition of Adshel will add a missing piece to our diverse Out Of Home portfolio, by adding a national street furniture and transit offering,” Mr Cook said.
“Adshel is an excellent business with great people and provides a massive audience reach through what we see as a great street furniture offering, plus its rail network in Sydney and Melbourne delivers the CBD audience, an area we know has real value to advertisers.
“Through this acquisition, we will deliver better service to our advertisers and at the same time fast track innovation in our product offering therefore providing us with exciting opportunities for the business and its growth.
“The digitisation opportunity in the Adshel business is expected to provide a significant avenue for further growth beyond what has been achieved to date,” he said.
Mr Cook said the company would commence integration as soon as possible, which would include the Adshel business being brought under the oOh!media brand.
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