The firm has submitted a recommended public offer to acquire all outstanding shares in Swedish out-of-home (OOH) operator, AdCityMedia.
AdCityMedia has around 4,500 digital screens in 1,500 locations including a mix of retail and leisure venues in popular cities such as Malmö, Oslo and Stockholm.
Ocean Outdoor also recently acquired Stockholm-based Visual Art and the combined revenue of both companies totals around 20% of the OOH market in Sweden.
According to Tim Bleakley, chief executive officer of Ocean Outdoor, the new deal is expected to take the company into seven of Europe’s “key advertising countries” with a footprint of over 100 million people.
Becoming part of the Ocean family and a bigger entity presents a whole new set of tools to push DOOH to the next level”
He says: “The combination of AdCityMedia and Visual Art will be the coming together of a talented, entrepreneurial, ambitious and disruptive team of people with a shared passion for innovative screen solutions for brands and landlords.
“The opportunity for digital out-of-home (DOOH) in the Nordic countries is huge and we look forward to the team introducing Ocean’s ‘The Art of Outdoor’ to all stakeholders, landlords, media agencies and advertisers over the coming months.”
Anders Axelsson, chief executive officer of AdCityMedia describes DOOH as having “never been in a healthier position” and adds: “We haven’t scratched the surface of opportunity that our channel can give to brands wanting to communicate with digital citizens in the Nordics.
“Becoming part of the Ocean family and a bigger entity presents a whole new set of tools to push DOOH to the next level. The opportunity for DOOH and Ocean in the Nordics is off the scale, and the team are really looking forward to working with our clients and agencies on the next stage of the DOOH voyage with Ocean.”
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