Cross Track Digital (XTD) has taken its first step towards a more diversified future, entering into a binding sales and purchase agreement to acquire out-of-home media company Adline today.
Adline’s growing and profitable network includes more than 100 centres, 65 of which are large scale indoor sporting locations boasting high-definition digital displays, online and direct-to-customer communication platforms and Wi-Fi hotspots. These provide brands with access to engaged, diverse and active communities Australia-wide.
XTD Chief Executive Officer Adam Cadwallader said the acquisition is the beginning of the company’s plans to expand its out-of-home network and diversify its revenue opportunities.
“This investment will allow us to build on what is already a very unique, diversified business centralised in out-of-home and media technology,” said Cadwallader, who joined XTD in August after seven years at oOh!media as group sales strategy director.
The acquisition will see XTD acquire Adline, with managing director Michael Johnstone (feature image) now joining as chief operating officer. Since acquiring the business, Johnstone has helped grow and nurture Adline’s integrated marketing ecosystem, which connect brands to more than 250,000 active and social Australians who play sport for fun each week.
Johnstone said XTD are the perfect strategic partner to help drive the business forward in a largely uncontested and fertile space.
“We are excited to join XTD and continue building momentum in our sector,” Johnstone said. “The intersection of indoor sport and community is very powerful. This audience is increasingly important and valuable for brands. We believe we can be the leader in this space not just from an advertising perspective but across online, data, social and content.”
In addition to its out-of-home offering, Adline has the exclusive rights to re-sell sporting software that enables centres to manage court bookings and competitions and allows players to easily access information such as stats, fixtures and game times.
Cadwallader said: “Adline’s team is amazing, its strategy is sound and with the help of XTD, it can accelerate its plans and continue its success in the sector. This acquisition is all about building a future for XTD that is sustainable and profitable, using its management expertise to grow and prosper.”
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