Abu Dhabi-based holding company Multiply Group has announced its complete acquisition of DOOH advertising company BackLite Media.
The deal includes all operating entities of BackLite Media and is a step in Multiply Group’s broader strategy to enhance and consolidate its Media vertical.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, commented: “The full acquisition of BackLite Media is another strategic milestone in our journey to build an integrated multi-brand media powerhouse.
“This expansion underpins our commitment to driving shareholder value by creating long-term growth and further strengthening Multiply Media’s valuation as we continue readying the vertical for its eventual listing,” adds Bouazza.
According to the Multiply Group, its move into DOOH advertising aligns with market trends and future growth opportunities.
BackLite’s outdoor portfolio comprises of 86 per cent digital and 14 per cent static advertising solutions.
BackLite Media has secured outdoor spaces across several locations in the UAE, including the Sheikh Zayed Road, The Galleria Mall, Al Qana and Dubai Festival City.
On the merger
Bengt Bendeus, Founder and Chairman of BackLite Media, said, “We are pleased for the acquisition by Multiply Group, reflecting on the journey of BackLite from its founding in 1996 to becoming a key player in the UAE’s outdoor advertising sector.”
Jawad Hassan, Head of the Media and Communications vertical at Multiply Group, stated: “We believe that this acquisition will unlock immense value for Multiply Media as we continue consolidating premium media assets across the OOH sector.”
Muhannad Al Ashram, Executive Director of BackLite Media,said “With the acquisition of BackLite Media by Multiply Group, we are witnessing a strategic alignment that is key to shaping the future of digital out-of-home advertising.”
James Bicknell, CEO of BackLite Media, added, “This impending partnership with Multiply Group opens a new chapter for BackLite Media. We are thrilled to expand our capabilities and continue to lead in the DOOH advertising space with enhanced reach and resources.”
The move expands the group’s existing out-of-home investments in the country. The group acquired a stake in outdoor supplier Media24/7 last year.
The Multiply Group’s media portfolio also includes Viola Communications.
