Motio Limited (ASX:MXO or “Motio”) has announced that it has entered into binding terms to acquire oOh!media’s Café and Venue Digital Place Based networks for $2.35M under a vendor financing facility provided by oOh.
In a milestone moment for Motio, the two networks comprise of over 450+ locations reaching crucial audiences in long dwell time environments. These locations comprise of Cafés in CBDs and key urban locations – as well as digital displays in landmark licensed Venues Australia wide. The deal is pivotal to Motio’s continued growth and expansion in the Digital Place Based and Audience Experience sector – which it continues to develop and lead.
Adam Cadwallader, CEO at Motio told us “Motio is setup and ready to take on additional networks. These two channels are especially significant with a number of us at Motio having worked previously on the build and development of both Café and Venue. We are very excited to have them join the Moto portfolio. Our continued focus in developing the Digital Place-Based & Audience Experience sector will be further enhanced with these networks and Motio is right sized to operate them with minimal impact or additional investment required in our team and operational infrastructure. We will ensure these networks are ready for programmatic revenue from day one and our team will be in market from January to ignite media sales from March 2023 and beyond. Our systems, technology and people are ready and enthused for this next stage of Motio’s growth”.
We are told that the Motio team will work with counterparts at oOh! to complete the integration of the two networks during January and February including displays, Wi-Fi and commercial agreement changes in readiness for completion on March 1, 2023.
At completion, Motio will own and operate over 1,500 digital displays across 1,000+ locations nationally. These networks reach in excess of 1.5 million unique Australian’s every week regardless of their other media consumption.