Mumbai: OOH Media, India’s largest out of home TV company, on 19 September announced the acquisition of AdImpact Ltd, a Mumbai-based out of home TV company.
Ishan Raina, CEO, OOH Media said: “I am delighted at this acquisition. AdImpact has some wonderful properties including key Nariman Point buildings, INOX nationally and other excellent properties across Mumbai & Bangalore. It has an excellent team of professionals, who have developed the company in an ethical and Entrepreneurial way.
Vibhav Parikh, Founder - M.D & CEO of AdImpact said: “We have known Ishan and the team for some time and have been impressed with the speed with which they have captured 3,000 screens across 22 markets and 35 advertisers in a span of a few months. Their leadership position and their passion for the business made it logical for us to want to consolidate and to join hands with them to create this company of the future.
Said Niloufer Dundh, Chief Sales Officer, OOH Media: “For my team and me, this is the best news ever. As we approach the festival season, we are in a position to give advertisers over 1200 screens in Mumbai, talking to over 3 million consumers a week with a clear domination across our 3 networks of work, shop and play- besides, of course, adding to our current leadership in multiplexes with the addition of INOX”.
OOH Media has been created by Ishan Raina amd team along with 3i, one of the world’s leading private equity groups, and has a strategic relationship with Focus Media, the world’s largest Out of Home T.V Company.