Abu Dhabi’s Multiply Group has announced its complete acquisition of BackLite Media, a leading Digital Out-of-Home (DOOH) advertising firm known for its premium locations across the United Arab Emirates (UAE). This acquisition, which includes all operating entities under BackLite Media, marks a pivotal move for Multiply Group, aiming to bolster its presence in the media landscape with a transaction that incorporates assets generating revenues upwards of USD 63 million in 2023.
BackLite Media, renowned for its innovative approach to DOOH advertising, boasts a diverse portfolio with 86% digital and 14% static advertising solutions, securing its position as a dominant player in the UAE’s advertising industry. Its strategic collaborations, particularly with the Roads and Transport Authority (RTA), have allowed it to showcase advertisements in some of the most coveted locations, including the iconic Sheikh Zayed Road’s The Landmark Series, The Galleria Mall, Al Qana, Dubai Festival City, and other prestigious venues.
This strategic acquisition by Multiply Group, which already houses notable entities such as Media 247 and Viola Communications, is expected to create significant synergies within its media vertical. It aligns with the Group’s focus on investing in high-growth potential enterprises and enhancing its market positioning in line with evolving market trends and future opportunities in the DOOH advertising domain.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, expressed enthusiasm about the acquisition, stating, “The complete acquisition of BackLite Media represents a key strategic achievement in our ambition to evolve into an integrated multibrand media conglomerate. This move is aligned with our dedication to driving shareholder value through sustained growth and bolstering Multiply Media’s market valuation in anticipation of its future public listing.”
Bengt Bendeus, the Founder and Chairman of BackLite Media, reflected on the acquisition as a testament to the company’s enduring innovation and leadership in the UAE’s outdoor advertising sector since its inception in 1996. He highlighted the acquisition’s potential to enhance the advertising landscape in the UAE and beyond.
Jawad Hassan, Head of the Media and Communications vertical at Multiply Group, remarked on the rapid evolution of OOH advertising in the UAE, emphasizing BackLite’s instrumental role in leveraging this growth. He anticipates the acquisition will significantly contribute to Multiply Media’s strategy of consolidating premium media assets across the OOH sector, promising innovative and impactful advertising solutions.
The partnership is also expected to accelerate the programmatic transformation of DOOH advertising in the UAE, following BackLite Media’s recent collaborations with several programmatic platforms, including Place Exchange, AdForm, Hivestack, Vistar, and Google DV360, thereby enhancing DOOH’s role in omnichannel marketing strategies.
For more info visit: https://multiply.ae/
