Outdoor giant oOh!media is set to acquire 100 per cent of Executive Channel International (ECN) shares for $68.5m, bolstering the company’s position in the CBD office market.

The deal was made through the oOh! wholly owned subsidiary, Inlink Group and according to company chief executive Brendon Cook, will further expand the oOh! digital presence by targeting premium CBD audiences.

“This acquisition will consolidate the oOh! market leading position in the highly valuable CBD office segment,” Cook says.

“It is in line with the oOh! strategy of driving engagement with audiences through a diversified portfolio of digital and classic screens in unmissable locations and will further enhance our digital market leadership.

He continues, “The combination of the businesses will deliver significant cost synergies and value creation opportunities.”

The ECN group was founded in Australia more than a decade ago and currently provides digital displays in CBD office towers and car parks, with a presence in 280 different venues.

The deal is expected to boost oOh! to a network of more than 3500 displays in the office CBD space, and an audience reach of 1.8 million per week.

Cook adds, “The acquisition further enhances our position as Australia’s largest reaching digital sign network and consolidates our number one position in the CBD office segment. This offering increases the value we can deliver to advertisers through greater reach and more efficient targeting of audiences.”

The acquisition is expected to complete by the end of October.

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