Ocean Outdoor has agreed to acquire Sweden-based out of home operator AdCityMedia (ACM), further strengthening its Scandinavian presence.
ACM operates approximately 4,500 digital screens in 1,500 locations, including Swedish and Norwegian city centres. The company also operates digital signage solutions across the Nordics.
Earlier this year, Ocean acquired another Swedish out of home (OOH) group – Visual Art Media. The acquisition added Sweden, Denmark, Finland and Germany to Ocean’s existing digital OOH portfolio in the UK and Netherlands; in buying ACM, the outdoor company adds Norway to the list.
Ocean claims that the combined revenue of Visual Art Media and ACM represents approximately 20% of the OOH market in Sweden.
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“This deal will take Ocean into seven of Europe’s key advertising countries with a footprint of over 100 million people,” said Ocean Group CEO Tim Bleakley, declaring that the opportunity for digital out of home in the Nordic countries is “huge”.
“We look forward to the team introducing Ocean’s ‘The Art of Outdoor’ to all stakeholders, landlords, media agencies and advertisers over the coming months.”
Ocean is the fourth largest OOH player in the UK behind JCDecaux, Global and Clear Channel. The company specialises in large-format DOOH screens, and also holds the contract for The IMAX.
The media business began trading on the London stock market in January to raise money for acquisitions, after losing out to Global in the race to acquire Exterion Media last year.
The acquisition of AdCityMedia is Ocean’s sixth transaction since March 2018 when Ocean was acquired by Ocelot.
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