Digital advertising firm in €51m double deal
A leading UK-based digital advertising firm has moved to acquire two Dutch counterparts in a €51 million deal.
Public company Ocean Outdoor, which is based in London and works with the Wimbledon Tennis Championships, Transport for London and city councils in Birmingham and Manchester, has continued its acquisition strategy by snapping up Interbest and Ngage Media.
Ocean said the acquisitions were a chance to expand its digital ‘out of home’ advertising reach into a highly progressive market with similar dynamics to the UK.
The two acquired companies operate substantial large format full motion city centre and roadside advertising portfolios across all the Dutch municipalities, covering key cities including Amsterdam, Rotterdam, Utrecht and The Hague.
Ngage Media is a 100 per cent pure play digital operator with 76 large full motion digital screens in 50 locations across the Randstad megalopolis which includes Amsterdam, Rotterdam, Utrecht and The Hague.
Interbest is the country’s biggest independent roadside operator with 88 digital and static OOH masts in prime locations on the busiest road and motorway networks. Its portfolio covers all the Dutch municipalities and the Randstad.
Both companies will continue to operate under their management teams, supported by the Ocean brand.
Announcing the deal, Ocean CEO Tim Bleakley said: “It’s an exciting move. These are two attractive businesses with very clear, complementary digital strategies with talented and focussed management in different spheres of the out-of-home sector.
“Their combination will create an enhanced offer which benefits all stakeholders, landlords, municipalities and advertisers along with the media and specialist agencies.
“Ocean has established a strong track record of unlocking the true value of acquired businesses. We plan to accelerate both company’s development plans, aligning the businesses within their own markets by sharing DOOH expertise and fast-tracking investment.
“Ocean has developed a strong, long term relationship with the management teams who were among the first international partners in Ocean’s Alliance network.
“We are really looking forward to working even closer with them on this next stage of the Ocean voyage.”
Ocean chairman Tom Goddard added: “Holland is one of Europe’s most dynamic media markets, with top class professionals working across the spectrum, so I have no doubt this move is going to be both successful and symbiotic for everyone involved.”
Ocean Group acquired Forrest Media from the Forrest Group in Scotland in March 2018, now operating as Ocean Scotland; Signature Outdoor, West Midlands, in 2014; and MediaCo, Manchester in 2015.