OOH Media acquires AdImpact

OOH Media, India’s largest out-of-home television company, has acquired AdImpact, a premier OOH television company based in Mumbai.

OOH Media has 3,000 screens across 22 markets in India. With this acquisition OOH Media will get an additional 1,200 screens of AdImpact.

Ishan Raina, CEO, OOH Media said, “AdImpact has some wonderful properties, including key Nariman Point buildings, INOX nationally and other excellent properties across Mumbai and Bangalore. These properties are prime location for us and it is always an advantage to own these sites.”

AdImpact is now a 100 per cent subsidiary of OOH Media.

“We have absorbed all the people of AdImpact,” said Raina. However, he would not divulge financial details of the deal.

OOH Media has plans to go public in the next two or three years.

The out-of-home television segment in India is in a nascent stage and has only 4,500 screens till date. “This is just the beginning. Five hundred to 600 screens are being added every month,” Raina said.

Raina is optimistic about the future of the medium. “With new buildings, multiplexes, tech parks coming up OOH media is all set to grow faster.” OOH Media was created nine months ago by Ishan Raina, former CEO of Euro RSCG, together with with 3i, one of the world’s leading private equity groups. OOH Media also has a strategic relationship with Focus Media, the world’s largest out-of-home TV company.

(Source: Business Standard)