Neo Media Group has confirmed rumours that it had set its sights on the North American marketplace with a press release issued earlier today announcing the creation of a number of US business operations.
Benjamin Mathieu, who has done a fantastic job in bringing Neo Advertising Inc. (the Canadian part of the business) to profitability in a little over two years will now run **Neo Advertising North America Holdings Inc. (“Neo Advertising NA”) and has been appointed President and CEO of Neo Advertising NA.
Benjamin Mathieu told us “The US market has been in our sights from the very beginning, We needed time to field-test various business models and establish a solid track record in Canada. We had also dedicated a lot of time and effort to researching the robust market south of the border. We are now confident that we can import Neo’s success story into the United States. Strategically, it is also a good moment for such a move, as entry barriers for real estate acquisitions are lower when the economy slows down”
As we told you last Friday ‘Neo To Open Offices In LA And NYC‘ the press release makes note that Neo Advertising USA, LLC has set up sales and marketing offices in New York, NY, and a production and operations facility in Los Angeles, CA
Christian Vaglio-Giors, founder of Neo Advertising Group and CEO of the holding Neo Media Group, will act as Chairman of the Board.
We see in the press release that Phil Tweedy, formerly VP of Operations at Ascent Media, joins Neo Advertising NA as Chief Technology Officer.
**A legal restructuring means that Neo Advertising Inc. now has a new new parent company, Neo Advertising North America Holdings Inc which in turn has formed Neo Advertising USA, LLC to lead the holding’s activities in the US.