AUCKLAND, Today: Val Morgan Outdoor reports that it has “successfully completed” the acquisition of oOh! Media office tower assets in New Zealand.
oOH NZhas many media assets – and the office tower business was a relatively small part of its portfolio.
VMO NZ commercial director Rob Forsyth said: “VMO is now the only provider of office tower media with the ability to reach over 40% of affluent office professionals across Auckland and Wellington.
“The acquisition of oOh! Media assets bolsters the VMO Work network footprint by 44%, with the portfolio now covering 120 locations in Auckland, Wellington, and Christchurch.
“The acquisition of the Ooh! Media Office network was an opportunity that was discussed between VMO & Ooh! during the covid lockdowns
“With VMO already having a substantial headstart in the office space, both parties agreed on the acquisition at the end of last year with VMO having now completed onboarding of the network into our existing footprint.
“The acquisition was a prime opportunity to add national scale and cementing our national footprint and market-leading position within office media.”
“Screen counts have also grown by 50% taking the VMO network to over 230 screens in total. With the addition of these new assets, the VMO Work network now reaches 2 million contacts weekly.
“The acquisition has been completed alongside further upgrades to existing as well as new premium assets installed at additional sites, continuing to fill the appetite from commercial property owners to modernise and improve their property assets.
“The VMO Work network has experienced consistent growth since inception.
“The recent acquisition of the oOh! network was a prime opportunity to add national scale and complement the rest of the network, cementing our national footprint and market-leading position within office media.”
Auckland-based Val Morgan Group sales director Matt Tremain said: “We’re excited at the opportunity to reach even more hard-to-reach professional audiences.
“Despite various disruptions due to restrictions, the team have outperformed expectations as clients continue to realise the clear benefits and results of the office tower medium.”
No comment
oOh! NZ has yet to comment on the office tower media sale. (www.oohmedianz.com)
About Val Morgan
Val Morgan delivers premium audiences across Cinema, Outdoor and Digital platforms. VMO’s New Zealand network now has 120 office tower locations with 230 screens nationally.
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