Abu Dhabi-based Multiply Group has acquired 100% of BackLite Media, a premier digital out-of-home (DOOH) advertising company with revenues of Dh232 million in 2023.
The deal encompasses all operating entities of BackLite Media and is a key step in Multiply Group’s broader strategy to enhance and consolidate its Media vertical, the company said in a press release.
BackLite Media has established itself as one of the leading media companies in the UAE. Its portfolio comprises 86% digital and 14% static advertising solutions. The company has also carried out notable partnerships with organisations including the UAE’s Roads and Transport Authority (RTA).
The media company has carried out campaigns in 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.
“The full acquisition of BackLite Media is another strategic milestone in our journey to build an integrated multi-brand media powerhouse,” said Samia Bouazza, Group CEO and Managing Director of Multiply Group. “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.”
The acquisition follows an increase in the popularity of OOH advertising. The sector has evolved rapidly in the last few years in the UAE with a CAGR of 16% between 2020 to 2023,
“We believe that this acquisition will unlock immense value for Multiply Media as we continue consolidating premium media assets across the OOH sector,” said Jawad Hassan, Head of the Media and Communications vertical at Multiply Group.
Bengt Bendeus, Founder and Chairman of BackLite Media, added: “We are pleased for the acquisition by Multiply Group, reflecting on the journey of BackLite from its founding in 1996 to becoming a key player in the UAE’s outdoor advertising sector.
“The acquisition marks a significant milestone, expected to enrich the business and advance the advertising landscape in the UAE and beyond.”
James Bicknell, CEO of BackLite Media, said that the partnership “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,” he said.
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.
This acquisition complements Multiply Group’s existing portfolio, which includes Media 247 and Viola Communications, and signals a strategic pivot into DOOH advertising. The company reported its 2023 financial results earlier this month.
