First on TMO: Provantage Media Group acquires majority stake in Global Outdoor Systems
THE MEDIA ONLINE / 06 FEBRUARY 2018 - 17.35 / STAFF REPORTER
Provantage Media Group has acquired a majority stake in Global Outdoor Systems, an African billboard company with a footprint in a large number of African markets. This cements its OOH position as one of the largest OOH media owners on the continent, where it is already well known for successful activations.
“We are delighted to announce the acquisition of Global Outdoor Systems and the formation of Provantage Global – a natural progression in terms of our desire to further expand into Africa,” said Jacques du Preez, founder and MD of Provantage Media Group. “This has long been part of PMG’s growth strategy and will enable us to earn foreign currency. Having credible, owned infrastructure in a large number of African countries will give us further traction on the continent and offer a wider footprint and portfolio of media services to our clients, both local and international.”
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Global Outdoor Systems, established in 2000, is a media owner with fully established operations in 10 African countries and affiliations with a further seven; its offices deliver to an additional four neighbouring countries. A partner to 21 of the top 25 most admired brands in Africa, the company is known for standard billboards but also for 3D media, digital and airport advertising, spectaculars, street furniture and custom designs.
The acquisition has resulted in the formation of a new entity known as Provantage Global, which will run the group’s African operations. Leveraging Global Outdoor Systems’ existing infrastructure in various African countries will allow PMG to launch new media and services, as well as expand its existing highly successful media businesses such as ProActive™, TransitAds™, MallAds™, AirportAds® and Field Sales. In addition, Provantage Global will be able to take advantage of existing local offices, market knowledge, and the hands-on operational teams to offer a more comprehensive solutions-based OOH media portfolio to clients in each country.
“This acquisition will provide the impetus to take Global Outdoor Systems’ service offerings to the next level, and bring a wider scope for growth within the existing markets and provide a catapult for expansion into the rest of Africa. Under the new guise of Provantage Global, we are set to become the leading OOH provider on the African continent,” said Neil Page, director of Provantage Global.
Established in 2003, and a black-owned, B-BBEE Level 1 company as of July 2017, PMG brings its considerable experience and reputation to bear on its African operations, including financial, legal and IT expertise. Provantage Global aims to enhance and develop OOH significantly on the continent with its effective marketing and advertising solutions.
LINK : https://themediaonline.co.za/2018/02/first-on-tmo-provantage-media-group-acquires-majority-stake-in-global-outdoor-systems/
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