Monday 22 April 2024

Multiply Group boosts OOH ad portfolio with BackLite buy

ABU DHABI, February 26, 2024

In a strategic move to expand its footprint in the burgeoning Out-of-home (OOH) advertising space, Multiply Group, the Abu Dhabi-based holding company, has acquired 100% of BackLite Media, a premier Digital Out-of-Home (DOOH) advertising company with assets in landmark locations in the UAE with revenues of AED232 million in 2023.
The deal encompasses all operating entities of BackLite Media and is a key step in Multiply Group’s broader strategy to enhance and consolidate its Media vertical.
With a portfolio that comprises 86 percent digital and 14 percent static advertising solutions, BackLite Media has established itself as one of the leading media companies in the UAE. 
Through notable partnerships, such as with the Roads and Transport Authority (RTA), BackLite Media has secured prime advertising locations including The Landmark Series along the iconic Sheikh Zayed Road, as well as in high-profile malls, destinations, and cinema advertising venues like The Galleria Mall, Al Qana, Dubai Festival City, and more, reported Wam
The extensive reach positions BackLite Media as a pivotal force in the UAE’s media landscape.
This acquisition seamlessly complements the Group’s existing portfolio, which includes Media 247 and Viola Communications, and underscores its dedication to investing in profitable enterprises and creating synergies.
The Group’s strategic pivot into DOOH advertising aligns with market trends and future growth opportunities, it stated.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, said: "The full acquisition of BackLite Media is another strategic milestone in our journey to build an integrated multi-brand media powerhouse."
"This expansion underpins our commitment to driving shareholder value by creating long-term growth and further strengthening Multiply Media’s valuation as we continue readying the vertical for its eventual listing," he stated.
Earlier this year, BackLite Media partnered with multiple Programmatic platforms, including Place Exchange, AdForm, Hivestack, Vistar, and Google DV360 to accelerate the programmatic transformation of DOOH in the UAE, providing increased opportunities for DOOH to be included in omnichannel marketing strategies, said the Wam report.
The acquisition is poised to transform the DOOH industry, introducing innovative and impactful advertising solutions in the UAE and beyond, it added.


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