Mubasher: Arabian Contracting Services Company (Al Arabia) and Multiply Group's media vertical teamed up to create a joint venture (JV) to invest in the global out-of-home (OOH) advertising sector.
The 90-day memorandum of understanding (MoU) will foster the two companies’ global presence and anchor their expansion plans into international markets, according to a press release
This collaboration will also focus on exploring joint acquisition opportunities and investments in OOH advertising, with an eye on expansion beyond the MENA region.
Meanwhile, the agreement covers exploring joint investments in advertising technology and AI within the OOH sector in line with the industry's ongoing transformation.
Advanced advertising platforms, including Supply-Side Platforms (SSP), are expected to boost the efficiency of reaching targeted advertising segments and enhance overall sector sustainability.
Mohammad Al Khereiji, the CEO of Arabia Outdoor Advertising, stated: " Our expansion strategy is centered on identifying and capitalizing on new growth opportunities in international markets."
"We believe this collaboration will strengthen our position as one of the fastest-growing companies in the OOH industry, allowing us to introduce groundbreaking solutions that harness the power of artificial intelligence and emerging technologies," Al Khereiji mentioned.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, commented: “This partnership with Al Arabia is part of Multiply Group’s global growth strategy. With two media powerhouses joining forces, we are establishing the foundation for advancing out-of-home advertising and AdTech.”
This strategic alliance will also drive business expansion, offer innovative advertising solutions to global markets, and secure new investment avenues while fostering industry sustainability.
Multiply Group became the majority shareholder in Castellano Investments after acquiring a 67.91% stake in the latter, which marked the UAE-based company’s first key investment into Europe.
