QMS, one of Australia and New Zealand’s fastest growing outdoor media companies, has today announced the acquisition of iSite in New Zealand for A$44.4 million. iSite is one of the two leading outdoor advertising businesses in the New Zealand market.
The acquisition provides QMS with a market leading position in New Zealand, adding three digital billboards, 450 static billboards, over 1,500 buses, and concessions for two of New Zealand’s top four airports, Wellington and Queenstown, to QMS’ existing portfolio.
The combined business will have a diversified, national portfolio of digital and static billboards, retail and transit assets. This will provide advertisers with a ‘one stop shop’, delivering strong audience reach and targeted advertising capabilities across multiple outdoor formats.
The acquisition of iSite is part of QMS’ strategy to leverage its existing presence for growth in attractive markets. QMS is excited to be able to bring the power of digital to more clients across New Zealand, and will accelerate its investment in digital development across iSite’s portfolio as advertisers’ demand for digital continues to grow.
Chris Monaghan, QMS NZ CEO, said: “This is an exciting opportunity for QMS and iSite to combine our two complementary businesses and skill sets together to capitalise on the compelling growth opportunity that exists in New Zealand.
“Bringing QMS’ current portfolio and experience in Digital, together with iSite’s strong national presence and established client relationships, enables us to continue our growth journey and present New Zealand advertisers with a premium quality outdoor offering.”
QMS Group CEO, Barclay Nettlefold, said: “The New Zealand outdoor industry is an attractive growth market for QMS, as we believe it is underdeveloped and will respond well to new asset investment, especially in large and small format digital outdoor.”
QMS looks forward to driving significant growth across the combined group’s expanded portfolio on both sides of the Tasman.