Ocean Outdoor acquires Dutch groups Interbest and Ngage Media for €51m
Source - SMW
Ocean Outdoor said it had acquired Dutch digital out-of-home advertising companies Interbest and Ngage Media for a combined €51m.
The transactions were agreed at an implied adjusted 2018 Ebitda multiple of 6.9 times before any synergy benefits.
'These transactions see Ocean Outdoor expand into a highly attractive market with similarly strong underlying industry dynamics to the UK,' the company said.
'The entry into the Netherlands via two simultaneous acquisitions creates an immediate scale platform, with a robust digital growth profile ahead, and provides the ability to realise synergies over time.'
At 9:43am: (LON:OOUT) Ocean Outdoor Limited Ord Npv Di share price was 0p at 6.8p