Here, There & Everywhere (HT&E) has confirmed it has completed the sale of Adshel to oOh!media for the price of $570 million.
As part of the sale, HT&E is offering shareholders a special dividend of 72 cents per share.
Adshel will now be folded into oOh!media, leaving HT&E with radio assets.
oOh!media acquired Here, There & Everywhere-owned Adshel for $570 million in late June.
The acquisition followed a bidding war between oOh!media and APN Outdoor for the outdoor street furniture business.
In April, Here, There & Everywhere (HT&E) received a revised offer of $470 million from oOh!media for Adshel, however, HT&E claimed it wasn’t the “most attractive” one on the table.
At the time of purchase, oOh!media CEO Brendon Cook said in a statement: “oOh!media has a history of developing a diverse product portfolio to offer advertisers a range of audiences.
“Adshel is complementary to our existing portfolio and we are excited to be entering the new segments of the street furniture and rail.
“The digitisation opportunity in the Adshel business is expected to provide a significant avenue for further growth beyond what has been achieved to date,
“We are confident the oOh! shareholders will enjoy the benefit of cost synergies arising from the acquisition.”
oOh!media will be acquiring more than 21,000 poster faces and 800 screens across Adshel’s Australian-New Zealand network.
In March, Adshel extended its Sydney Trains contract, which was due to expire at the end of 2018, for multiple years.
The sexiest singles in the nation (according to Channel Nine, at least) are back on airwaves with Love Island Australia on Monday, October 4, at 9.00pm after The Block on Channel 9 and 9Now. Aussie sweetheart Sophie Monk will return to host (and play Cupid) alongside new addition, comedian Stephen Mullan a narrator, in the world-renowned reality TV […]
Yotpo is officially expanding into Australia, off the back of significant market growth with massive Aussie names, a landmark investment from Shopify and a plan to help local Aussie e-comm explode. Yotpo’s ANZ userbase includes names like Zoe Foster Blake’s $180M Go-To Skin Care, e-commerce fashion queen Princess Polly, and billion-dollar streetwear brand Culture Kings, […]
Progress has today announced the availability of Progress Sitefinity DX 14.0. This agile, flexible and extensible platform allows organisations to create an ideal digital experience platform (DXP) tailored to their unique needs and objectives with new capabilities for low-code integration and chat-driven engagement, as well as enhanced headless content delivery. The digital world is transforming […]
Tangram has announced that they have signed a partnership with monday.com. the work operating system (Work OS) where organizations of any size can create the tools and processes, they need to manage every aspect of their work. Israeli-based monday.com and Australian-based Tangram form an irresistible team of experts offering unique solutions to agency problems. monday.com […]
Leading Australian market research data brand, RDA Research, provides actionable consumer intelligence to help businesses inform decision making and growth strategies. RDA Research wanted to make its unique consumer data available for addressable digital targeting and required a data onboarding partner to help activate their data in an online environment.
Storytelling agency Enthral has appointed Channel 7 reporter and sports presenter Sean Sowerby as its new senior PR and content manager in Melbourne. Sowerby (pictured) started his award-winning career at 3AW before spending more than 15 years in television. Enthral founder and manager director, Cameron Smith, spoke of the significance of Sowerby joining the agency. […]