Adrian J Cotterill, Editor-in-Chief
Ocean Outdoor Limited is continuing its acquisition trail in the Nordics with a recommended public offer to acquire all the outstanding shares in AdCityMedia AB (ACM), the Sweden-based OOH operator which is listed on the Nasdaq First North Growth Market. This transaction of course, follows the recent acquisition of Visual Art, the Stockholm-based pure-play digital out of home media and tech group.
The combination of ACM and Visual Art will enhance Ocean Outdoor’s presence in Sweden, Denmark and Finland and sees Ocean enter the Norwegian out of home market through ACM’s established portfolio of assets there.
Anders Axelsson, CEO of AdCityMedia, said “Safe to say, DOOH has never been in a healthier position. We haven’t yet scratched the surface of opportunity that our channel can give to brands wanting to communicate with digital citizens in the Nordics. Becoming part of the Ocean family and a bigger entity presents a whole new set of tools to push DOOH to the next level. The opportunity for DOOH and Ocean in the Nordics is off the scale, and the team are really looking forward to working with our clients and agencies on the next stage of the DOOH voyage with Ocean.”
The combined revenue of both companies represents approximately 20% of the OOH market in Sweden, with a strong position in the DOOH segment.
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