Verifone Taxi Media Sales (Business)

Chris Sheldrake

Here’s a bit more about VeriFone Holdings, Inc. (NYSE: PAY) acquisition of Clear Channel Outdoor’s Taxi Media Sales Business that we covered very briefly yesterday.

  • Financial terms were not disclosed.
  • VeriFone intends to leverage the business into VeriFone’s Media Solutions payment-enabled business, where they believe “in-taxi digital content is positioned to become one of the most innovative advertising venues as spending moves from traditional to online and digital place-based media”.
  • Douglas G. Bergeron, CEO of VeriFone said “VeriFone is delivering Internet-enabled, multi-media technologies at the point-of-sale. As consumers shift to electronic transactions in taxicabs and other media-enabled locations, we have a unique ability to deliver dynamic and interactive campaigns with desirable and measurable advertising efficiencies. This is a very high value services opportunity.”
  • The acquisition includes relationships with a nationwide network of taxi media buyers and more than 20 experienced media sales representatives. With the acquisition, VeriFone has added an additional 5,000 taxicab advertising endpoints to its existing New York City network of 6,500 cabs.
  • VeriFone believes that its expanded media sales force can now sell advertising to local and national buyers with a reach of 90 percent of all New York taxi cabs. Presently, there are approximately 300,000 taxi fares a day in New York City.
  • VeriFone Media Solutions now has sales representatives in Boston, Chicago, Las Vegas, Miami, New Orleans, New York City and San Francisco.

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