Swift Media's medical channel has gone to Motio in an all share deal.
The acquisition of Swift’s health and wellbeing business positions Motio as a leader in Australian digital healthcare media.
Swift, which says it will now focus on driving scale and profitability in the core verticals of mining and resources and aged care, gets 30 million Motio shares from the deal.
Motio shares last traded at $0.105, valuing the deal at $3.15 million.
Motio has been rapidly expanding, acquiring Adline Media and oOh! Media’s mega medical centre display network last year.
Adam Cadwallader, Motio CEO: “Our focus on leadership in the Digital Place Based Media & Customer Location Intelligence sector will be significantly accelerated with the acquisition of Medical Channel – health & wellbeing is a strong sector for Motio to build and lead.
“This deal will provide further reach, scale and impact for our Motio Media business, as we continue to enhance our ownership position in the Digital Place Based sector.”
Michael Johnstone, Motio COO: “The addition of Medical Channel to our already significant portfolio will drive stronger, brand-safe, content enhanced environments underpinned by technology and data.”
Pippa Leary, Swift Media Limited CEO: “This deal is a natural extension of our existing sales representation partnership with Motio.
"Motio has recognised our vision and the hard work that the Swift team has already invested. The company has both the capability and experience to see the business through to the next stage of success.
“Swift is delighted to be able to maintain an indirect presence in this growth market, retaining a significant equity stake in Motio and looks forward to the businessincreasing value for Swift’s shareholders.”
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