A subsidiary of Woolworths (ASX: WOW) has acquired digital out-of-home (OOH) media company Shopper Media Group for $150 million, adding 2,000 screens to its growing advertising network.
WOW subsidiary Cartology has announced it will buy 100 percent of Sydney-based Shopper for cash consideration - a move that will expand the reach of the retail giant’s media business into 400 more Australian shopping centres, but it will require clearance from the Australian Competition & Consumer Commission.
Shopper Media offers targeted advertising through a network of more than 2000 screens in more than 400 shopping centres.
Brad Banducci, Woolworths’ chief, said retail media is developing rapidly and is an important part of the evolution of Woolworths Group.
“We’re excited about the opportunity to bring together the complementary capabilities of our retail media business, Cartology, with Shopper’s expertise in out of home media,” Banducci said.
Cartology managing director Mike Tyquin said the deal would accelerate the subsidiary’s goal in becoming the “trusted media partner of choice for brands and retailers”.