In a strategic move to broaden its presence in the flourishing Out-of-home (OOH) advertising sector, Multiply Group (ADX: MULTIPLY), the Abu Dhabi-based holding company, has successfully acquired BackLite Media, a leading Digital Out-of-Home (DOOH) advertising firm with assets situated in prominent locations across the (UAE).
BackLite Media, boasting revenues of AED 232M in 2023, becomes wholly owned by Multiply Group in a comprehensive deal covering all operational entities, marking a significant advancement in the company’s overarching plan to strengthen and consolidate its Media vertical.
BackLite Media: A Dominant Force in UAE’s Media Landscape
With a portfolio consisting of 86% digital and 14% static advertising solutions, BackLite Media has solidified its position as a major player in the UAE’s media landscape. Through strategic partnerships, including one with the Roads and Transport Authority (RTA), BackLite Media has secured prime advertising spaces, such as The Landmark Series along the renowned Sheikh Zayed Road, as well as in distinguished malls, destinations, and cinema advertising venues like The Galleria Mall, Al Qana, Dubai Festival City, and others. This extensive reach positions BackLite Media as a key influencer in the UAE’s media sector.
The acquisition seamlessly complements Multiply Group’s existing portfolio, encompassing Media 247 and Viola Communications. It underscores the Group’s commitment to investing in profitable enterprises and fostering synergies. Multiply Group’s strategic shift towards DOOH advertising aligns with prevailing market trends and future growth prospects.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, remarked: “The complete acquisition of BackLite Media signifies another strategic milestone in our quest to construct an integrated multi-brand media powerhouse. This expansion reaffirms our dedication to enhancing shareholder value by fostering long-term growth and further bolstering Multiply Media’s valuation as we prepare the vertical for its eventual listing.”
Bengt Bendeus, Founder and Chairman of BackLite Media, observed: “We are delighted with the acquisition by Multiply Group, reflecting on BackLite’s journey from its establishment in 1996 to becoming a prominent player in the UAE’s outdoor advertising sector. This achievement reflects continuous innovation, determination, and strong leadership from Dubai, RTA, and Dubai Municipality. The acquisition represents a noteworthy milestone, expected to enrich the business and advance the advertising landscape in the UAE and beyond.”
BackLite Media’s Acquisition by Multiply Group: Shaping the Future of Digital Out-of-Home Advertising
Jawad Hassan, Head of the Media and Communications vertical at Multiply Group, declared: “OOH advertising has evolved rapidly in the last few years in the UAE with a CAGR of 16% between 2020 to 2023, and BackLite has been at the very forefront, capitalizing on this growth. We believe that this acquisition will unlock immense value for Multiply Media as we continue consolidating premium media assets across the OOH sector. With BackLite’s robust market presence, prime locations, and exceptional team, together; we will deliver innovative and impactful advertising solutions in the UAE and beyond.”
Muhannad Al Ashram, Executive Director of BackLite Media, stated: “With the acquisition of BackLite Media by Multiply Group, we are witnessing a strategic alignment that is key to shaping the future of digital out-of-home advertising.”
James Bicknell, CEO of BackLite Media, added, “This impending partnership with Multiply Group opens a new chapter for BackLite Media. We are thrilled to expand our capabilities and continue to lead in the DOOH advertising space with enhanced reach and resources.”
Earlier this year, BackLite Media accelerated the programmatic transformation of DOOH in the UAE by partnering with multiple Programmatic platforms including Place Exchange, AdForm, Hivestack, Vistar, and Google DV360, thereby increasing opportunities for DOOH to be included in omnichannel marketing strategies.
Zawya News reports that the acquisition is poised to transform the DOOH industry, introducing innovative and impactful advertising solutions in the UAE and beyond.
About Multiply Group
Multiply Group PJSC is an Abu Dhabi-based holding company that invests in transformative cash-generating businesses it comprehends.
The Group will persist in deploying capital across its two distinct arms, both of which adhere to a disciplined approach to investment, ensuring consistent and sustainable value creation for our shareholders in the short-medium and long term:
Multiply, encompassing investments and operations in long-term strategic verticals, presently including Mobility, Energy and Utilities, Media and Communications, Beauty and Wellness, and Fashion and Living. Anchor investments provide long-term recurring income, facilitating bolt-on acquisitions.
Multiply+, serving as a flexible, sector-agnostic, and opportunistic investment arm.
About BackLite Media
Based in the UAE, with offices in Abu Dhabi and Dubai, BackLite Media is a specialist Out-of-Home (OOH) media company renowned for its innovative approach and dedication to pushing the boundaries of advertising.
As the primary partner with the Roads and Transport Authority (RTA), BackLite Media possesses prominent locations along the iconic Sheikh Zayed Road in Dubai. These standout locations, coupled with operations in distinguished malls, destinations, and cinema advertising venues such as The Galleria Al Maryah Island, Al Qana, and Dubai Festival City, establish BackLite Media as a significant player in delivering unmatched advertising reach throughout individuals’ daily journeys in the UAE.
BackLite Media’s success underscores its ability to adapt to the dynamic advertising landscape while upholding a commitment to creativity and innovation, shaping the future of Out-of-Home media.
