Ocean Outdoor buys Visual Art Media
Ocean Outdoor has today acquired independent DOOH and tech group based in the Netherlands.
Ocean says the acquisition will strengthen its presence in Northern Europe, allowing it to add locations in Sweden, Denmark, Finland, and Germany to its portfolio.
Visual Art Media is the largest DOOH operator in Sweden, with a portfolio of over 260 sites. It has exclusive rights to 15 shopping centres in cities including Berlin and Munich.
It will continue to operate under its current management, headed up by CEO Andreas Lind.
Commenting on the deal, Ocean CEO Tim Bleakley said: “Visual Art Media is an attractive business that we have long admired. The company combines great people with great assets in growing DOOH markets, offering impressive opportunities across a number of different business areas and multiple countries.
“We have a strong connection with Sweden and Visual Art Media through our board member, Martin HP Söderström. With his network of Scandinavian real estate firms we see good synergies and possibilities to grow Visual Art Media in the Scandinavian market further.
“This acquisition creates an enhanced offering which benefits all stakeholders, landlords, municipalities and advertisers along with the media and specialist agencies. We look forward to working with the management teams at Visual Art Media to combine their expertise with the Ocean brand and our Digital Cities for Digital Citizens philosophy.”
Stephen Joseph, Ocean COO and CFO, said: “Ocean now consists of strong platforms across the UK and Northern Europe with exciting opportunities to expand in our key areas of organic growth, tech innovation and further acquisitions. We are excited to be working with the individual market management teams to unlock the true value of DOOH.”
Commenting on behalf of Visual Art Media, CEO Andreas Lind and Hoss Khosravi, chief revenue officer, said: “Becoming part of Ocean allows us to enhance our objective to enlarge our digital footprint in domestic markets as well as our international ambitions to develop the digital out-of-home medium. Achieving this under the premium Ocean brand proposition marks an exciting new era for digital OOH advertising in the Nordics and Germany.”