Place-based and audience experience media company Motio is aquiring Oh!media’s café and venue digital place based networks for $2.35 million.
The deal is being financed under a vendor financing facility provided by oOh! over four years at a fixed 10.1% annual interest only for the first year.
The two networks have more than 450 locations, including cafés in CBDs and key urban locations as well as digital displays in landmark licensed venues nationally.
The Motio team will work with counterparts at oOh! to complete the integration of the two networks over January and February including displays, Wi-Fi and commercial agreement changes in readiness for completion on March 1.
Adam Cadwallader, CEO at Motio: “Motio is setup and ready to take on additional networks. These two channels are especially significant with a number of us at Motio having worked previously on the build and development of both Café and Venue. We are very excited to have them join the Moto portfolio.
"Our continued focus in developing the Digital Place-Based & Audience Experience sector will be further enhanced with these networks and Motio is right sized to operate them with minimal impact or additional investment required in our team and operational infrastructure.”
“We will ensure these networks are ready for programmatic revenue from day one and our team will be in market from January to ignite media sales from March 2023 and beyond. Our systems, technology and people are ready and enthused for this next stage of Motio’s growth”
At completion, Motio will own and operate more than 1,500 digital displays across 1,000+ locations nationally.
These networks reach in excess of 1.5 million unique Australian’s every week regardless of their other media consumption.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.