XTD has acquired oOh!Media's health network in a $300,000 cash deal.
The national network operates digital displays in 58 medical and dental facilities owned by Idameneo under an exclusive media contract.
The deal is central to XTD’s strategy of owning networks in out-of-home and advertising technology. XTD confirmed it is in discussion with other place based and out-of-home networks.
As well as the acquisition, XTD also announced the launch of MOTIO, a specialist out-of-home media sales company.
“This is, without doubt, an opportunistic investment for XTD," says managing director Adam Cadwallader, a former oOh!media senior executive.
"We are acquiring a high quality digital-out-of-home network with Australia’s leading Medical Centre provider at a modest operating cost, providing an ideal launchpad for our sales company, MOTIO.”
Cadwallader says the acquisition will allow the company to expand our business within a sector that is experiencing a spike in clientele.
MOTIO officially starts operations May 1.
The company in December bought Adline Media, an out of home operator in the sporting sector, in a $468,000 deal.
XTD, in the half year to December reported a loss of just over $1 million on revenue of $1,787,482. The company has been stripping out costs, getting rid of consultants, and investigating digital out-of-home market opportunities.
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 firstname.lastname@example.org