Ocean Outdoor acquires Signature

Ocean Outdoor has today announced the acquisition of Signature Outdoor, as it looks to strengthen its digital out-of-home footprint.

The deal, made for an undisclosed sum, will see Signature operate and manage its portfolio and continue to develop heritage digital formats, while Ocean’s national network is expected to be boosted by the infusion of Signature’s digital inventory and banners.

Signature is Birmingham’s leading premium out-of-home advertising company. Its co-founders, Gerry Bew and Steve George, will join the executive team led by Ocean CEO Tim Bleakley.

In the second quarter of 2014, outdoor advertising grew 6.4% to £258.8 million, according to the Outdoor Media Centre – the fourth best performance ever recorded.

At £68.3 million, digital revenues were particularly strong – up 30% year on year to account for 26% of total revenue, amounting to the greatest quarterly digital revenue recorded for the sector.

A separate report from the Advertising Association/Warc forecasts overall annual growth in the out-of-home sector to increase 2.7% in 2014 to reach a total of £1,017 million – the first time the sector will have surpassed the £1 billion mark.

Commenting on the acquisition, Bleakley said: “This is a very exciting development for both companies, and will enable us to provide even more innovative communication and technological solutions for our brand and agency partners.”

Bew added: “Both Steve George and I really admire and respect what the Ocean team has achieved in a relatively short time span and are very proud to be joining force and supporting the next exciting and ambitious phase.”