AUCKLAND, Tuesday: Leading Australia digital out-of home-business, QMS Media Limited (ASX:QMS) has entered into a Scheme Implementation Deed (SID) with Quadrant Private Equity, who will acquire 100% QMS Media shares with an all cash offer at A$1.22.
The deal gives QMS Media an enterprise value of A$571.3 million. QMS Media owns a 40% share in MediaWorks.
The deal is also subject to certain conditions, including the continuing engagement of QMS personnel Barclay Nettlefold and John O’Neill.
“The deal is also subject to the continuing engagement of QMS personnel Barclay Nettlefold & John O’Neill.”
QMS ceo Barclay Nettlefold said: “The acquisition by Quadrant represents an excellent outcome for our shareholders, partners and employees. It is a testament to our sustained growth in a challenging market, and our continued market-leading digital revenue contribution, led by our strong and experienced executive management team.”
Quadrant Private Equity partner Jonathon Pearce said: “We believe the business will continue to deliver innovative market-leading solutions to customers across Australia & New Zealand.”
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