Australia’s oOh!media Limited (ASX: OML) has acquired out-of-home printing and production company Cactus Imaging.
Brendon Cook, CEO of oOh!media told us “While digitisation of Out Of Home provides new opportunities to engage with audiences like never before, classic out of home plays a critical role in brand building for advertisers, both independently and in partnership with digital assets”.
oOh!media said the acquisition will reduce its costs and increase the company’s earnings per share and was fully-funded by cash, “This acquisition will allow us to deliver supply chain efficiencies for the delivery of classic print outdoor advertising across its leading metropolitan, regional and retail out of home networks, to support Cactus’ continued innovation and drive advertiser return on investment”.
Cactus specialises in the digital printing of grand, large and small format advertising across the out of home industry.
At the end of June oOh!media entered into an agreement to acquire privately-owned on-line content and publishing company Junkee Media Pty Limited.