Multiply Group Fully Acquires BackLite Media; Strengthens its Media Portfolio

(MENAFN- Weber Shandwick) Abu Dhabi, UAE, 26 February 2024: In a strategic move to expand its footprint in the burgeoning Out-of-home (OOH) advertising space, Multiply Group (ADX: MULTIPLY), 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 United Arab Emirates (UAE) and revenues of AED 232 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% digital and 14% 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. The extensive reach positions BackLite Media as a pivotal force in the UAE’s media landscape.

This acquisition seamlessly complements Multiply Group’s existing portfolio, which includes Media 247 and Viola Communications, and underscores the Group’s 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.

Samia Bouazza, Group CEO and Managing Director of Multiply Group, commented: “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.”

Bengt Bendeus, Founder and Chairman of BackLite Media, noted: “We are pleased for the acquisition by Multiply Group, reflecting on the journey of BackLite from its founding in 1996 to becoming a key player in the UAE's outdoor advertising sector. This success reflects persistent innovation, determination, and strong leadership from Dubai, RTA and Dubai Municipality. The acquisition marks a significant milestone, expected to enrich the business and advance the advertising landscape in the UAE and beyond.”

Jawad Hassan, Head of the Media and Communications vertical at Multiply Group, stated: “OOH advertising has evolved rapidly in the last few years in the UAE with a CAGR of 16% between 2020 to 2023, and BackLite has been at the very forefront, capitalizing on this growth. We believe that this acquisition will unlock immense value for Multiply Media as we continue consolidating premium media assets across the OOH sector. With BackLite’s robust market presence, prime locations, and exceptional team, together; we will deliver innovative and impactful advertising solutions in the UAE and beyond.”

Muhannad Al Ashram, Executive Director of BackLite Media, said "With the acquisition of BackLite Media by Multiply Group, we are witnessing a strategic alignment that is key to shaping the future of digital out-of-home advertising,"

James Bicknell, CEO of BackLite Media, added, “This impending partnership with Multiply Group opens a new chapter for BackLite Media. We are thrilled to expand our capabilities and continue to lead in the DOOH advertising space with enhanced reach and resources.”

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.

The acquisition is poised to transform the DOOH industry, introducing innovative and impactful advertising solutions in the UAE and beyond.

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