Key Highlights:
- Multiply Group acquires BackLite Media, a leading DOOH advertising company in Dubai, bolstering its presence in the advertising sector.
- BackLite Media’s 2023 revenue of AED232 million underscores its strong performance and strategic value.
- The acquisition aligns with Multiply Group’s strategy to expand its footprint in the OOH advertising space and consolidate its media vertical.
- Strategic partnerships, including with the RTA, position BackLite Media as a key player in securing prime advertising locations across the UAE.
- Samia Bouazza, Group CEO of Multiply Group, highlights the acquisition’s importance in driving long-term growth and enhancing Multiply Media’s valuation.
Multiply Group, a UAE-based holding company listed on the Abu Dhabi Securities Exchange, has completed the full acquisition of BackLite Media, an outdoor advertising company in Dubai that reported a revenue of 232 million UAE dirhams ($63.1 million) in 2023.
The acquisition encompasses all operational entities of BackLite Media, including its portfolio comprising 86% digital and 14% static advertising solutions. According to a statement, Multiply Group’s move is aligned with its strategy to expand its presence in the out-of-home advertising space and consolidate its media vertical.
Other media companies within Multiply Group’s existing portfolio include Media 247 and Viola Communications.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, stated, “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.”
In a strategic initiative to broaden its footprint in the rapidly expanding Out-of-home (OOH) advertising sector, Multiply Group (ADX: MULTIPLY), the Abu Dhabi-based holding company, has acquired 100 percent of BackLite Media, a premier Digital Out-of-Home (DOOH) advertising company with assets in landmark locations across the UAE and revenues of AED232 million in 2023.
With a portfolio comprising 86 percent digital and 14 percent static advertising solutions, BackLite Media has emerged as a leading media company in the UAE. Through strategic 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. BackLite Media’s extensive reach positions it as a pivotal force in the UAE’s media landscape.
This acquisition seamlessly complements the Group’s existing portfolio, which includes Media 247 and Viola Communications, and underscores its 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.
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.
