OOH Media, one of India’s largest out-of-home TV companies, has just acquired AdImpact, also a leading OOH TV company based in Mumbai. AdImpact started its operations in Mumbai in January 2006.
Ishan Raina, CEO, OOH Media, said, “I am delighted at this acquisition. AdImpact has some wonderful properties including key Nariman Point buildings in Mumbai, INOX nationally and other excellent properties across Mumbai and Bangalore. It has an excellent team of professionals who have developed the company in an ethical and entrepreneurial way.”
Vibhav Parikh, Founder MD & CEO of AdImpact, commented, “We have known Ishan and the team for some time and have been impressed with the speed with which they have captured 3,000 screens across 22 markets and 35 advertisers in a span of a few months. Their leadership position and their passion for the business made it logical for us to want to consolidate and to join hands with them to create this company of the future.”
Said Niloufer Dundh, Chief Sales Officer, OOH Media, “For my team and me, this is the best news ever. As we approach the festival season, we are in a position to give advertisers over 1,200 screens in Mumbai, talking to over 3 million consumers a week with a clear domination across our three networks of work, shop and play, besides, of course, adding to our current leadership in multiplexes with the addition of INOX.”
AdImpact has key locations in Express Towers at Nariman Point, Panchratna Towers at Opera House, Solitaire Park at Andheri, Inox nationally, Atlanta at Nariman Point, Hiranandani Business Park at Powai, Chintamani Plaza at Andheri, Metropolitan and Madhava at Bandra Kurla among many others.
OOH Media has been established by Ishan Raina along with 3i, one of the world's private equity groups, and has a strategic relationship with Focus Media, the world's largest out-of-home TV company.