Multiply Group Fully Acquires BackLite Media To Strengthen OOH Advertising Presence In UAE

In a significant development for the Out-of-home (OOH) advertising sector, Multiply Group (ADX: MULTIPLY), headquartered in Abu Dhabi, has announced the complete acquisition of BackLite Media, a leading Digital Out-of-Home (DOOH) advertising firm known for its strategic placements across the UAE. This move is part of Multiply Group's ambitious plan to broaden its influence in the media domain, particularly within the DOOH advertising market, which is witnessing rapid growth. The acquisition, which includes all operational entities under BackLite Media, was finalized with BackLite Media reporting revenues of AED232 million in 2023.

BackLite Media boasts a diverse portfolio, with digital advertising solutions making up 86 percent and static solutions accounting for the remaining 14 percent. The company's success is attributed to its partnerships with key entities like the Roads and Transport Authority (RTA), securing coveted advertising spots along Sheikh Zayed Road's Landmark Series and in prominent locations such as The Galleria Mall, Al Qana, Dubai Festival City, among others. These strategic placements have cemented BackLite Media's role as a central player in shaping the UAE's media landscape.

The integration of BackLite Media into Multiply Group's existing media holdings, which include Media 247 and Viola Communications, is expected to create valuable synergies and reinforce the Group's commitment to investing in lucrative ventures. This acquisition aligns with Multiply Group’s strategy to capitalize on emerging market trends and explore new growth avenues within the DOOH advertising sector.

Samia Bouazza, Group CEO and Managing Director of Multiply Group, expressed enthusiasm about the acquisition, stating, "The full acquisition of BackLite Media marks a significant step forward in our quest to establish an integrated multi-brand media conglomerate. This expansion not only demonstrates our dedication to driving shareholder value but also strengthens Multiply Media’s valuation as we prepare for its potential future listing."

Earlier this year, BackLite Media enhanced its programmatic capabilities by partnering with several Programmatic platforms such as Place Exchange, AdForm, Hivestack, Vistar, and Google DV360. These collaborations are set to propel the programmatic transformation of DOOH advertising in the UAE, offering advertisers more opportunities to integrate DOOH into their omnichannel marketing strategies.

The acquisition by Multiply Group is poised to introduce innovative advertising solutions that could redefine the DOOH industry in the UAE and potentially on a global scale. This strategic move underscores Multiply Group’s vision to lead in the evolving media landscape by leveraging cutting-edge technology and fostering growth through strategic investments.

With inputs from WAM