Quadrant is set to acquire out of home media company QMS in what is believed to be a $500 million-plus deal.
According to AFR’s Street Talk, Quadrant – which sold out of what was APN Outdoor four years ago – is set to buy digital signage and sports advertising company QMS Media.
It’s reported Quadrant is set to acquire QMS in its entirety and offered more than $1.10 a share for it.
QMS denied B&T‘s request for confirmation yet an ASX announcement is expected to come later today
Under the acquisition, QMS CEO Barclay Nettlefold is expected to remain at the company. And, if the deal passes with QMS shareholders, it would end the company’s short-lived life as a listed entity.
Acquisitions in the OOH industry are not uncommon. Just last year APN Outdoor was bought by JCDecaux, while oOh! bought Adshel.
