XTD agrees to $300K all-cash deal to secure oOh!media’s health network
Category: #health  By Saipriya Iyer  Date: 2020-04-15
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XTD agrees to $300K all-cash deal to secure oOh!media’s health network

XTD, a digital transit media company, has recently agreed to enter an all-cash deal of $300,000 to acquire the health network of oOh!media, a leading out-of-home advertising company. This health network operates in nearly 50 mega dental & medical facilities in Australia.

As per the terms of the agreement, the advertising company will assign XTD with the exclusive media rights to the digital network that it holds with Idameneo (No 123) Pty Ltd, a medical center management company, for an initial 5-year term that will commence in June. The acquisition will enable XTD to attain various assets such as players, screens, and associated equipment from the advertising company for the cash consideration value.

XTD has been focusing on building a customer-facing team that will enable the potential partner networks to gain benefits from the experience in the place-based out-of-home media sector. The recent acquisition happened along the heels of XTD launch of Motio Pty Ltd, its data-led, out-of-home media sales company, which will become operational in May.

According to Adam Cadwallader, managing director, the recent acquisition of the leading medical center provider and the launch of the media sales company will be opportunistic for the company. Both medical and dental centers have offered critical input to the development of this health network. Mr. Cadwallader further added that this network will enable large-scale dental and medical facilities to gain direct and centralized access to rich content and communicate important messages instantly to customers.

XTD recently confirmed that it has been well-positioned to explore various business opportunities owing to its strong financial results in the 2nd half of 2019. It also posted its earnings before tax, interest, depreciation, & amortization of $439,350 as well as a net profit of $214,376, which represents a 153% & 121% respective increase on the corresponding period of the previous year.

Source credit:

https://smallcaps.com.au/xtd-acquires-oohmedia-mega-health-network-launches-out-of-home-media-motio/



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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