XTD is continuing to diversify its future acquiring the oOh! Media ‘Health’ network in an asset sale and purchase agreement for all cash consideration of $300,000.
The national network operates in 58 medical & dental facilities owned by Idameneo. The network includes 77 digital displays positioned prominently within major medical & dental facilities Australia wide.
As well as the aquisition, XTD has also announced the launch of Motio, a new specialist out-of-home media sales company.
XTD managing director Adam Cadwallader (pictured) said: “Since August last year we have been working on a vision to create a customer facing team that enables our own and potential partner networks, rich in customer data, to benefit from our experience in the ‘place based’ out-of-home sector”.
“This is, without doubt, an opportunistic investment for XTD. We are acquiring a high quality digital-out-of-home network with Australia’s leading Medical Centre provider at a modest operating cost, providing an ideal launchpad for our sales company, Motio”.
Cadwallader added: “Each centre has provided critical input in the development of the network, pinpointing optimum positions for each display, producing a world class digital place-based network.
“Entertaining and engaging people in the waiting areas and key focal points such as pharmacy will enable brands to engage consumers with more than just advertising, unlocking the moment of maximum influence at the intersection of time, place and intent.
“This acquisition will allow us to expand our business within a sector that is clearly experiencing a spike in clientele at present and is central to XTD’s strategy of owning networks in out-of-home and advertising technology”.
Motio will officially begin operations on May 1 and XTD confirm they are in discussion with other Place Based and Out-Of-Home networks. The Cross-Track network remains under contract with JCDecaux Australia.
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