Media 247’s assets include more than 45 outdoor billboards, mono-columns and exclusive 3D structures located in a number of strategic locations within the Emirate of Dubai.
The company provides media management services, printing and special project services, and has strong relations with a group of prominent advertisers and local and international agencies.
Media 247 also provides transportation advertising solutions such as advertising posters through the red-roofed taxis of the Roads and Transport Authority, which is the largest fleet of taxis in Dubai, and taxis at Dubai Airport.
The investment in “Media 247” falls within the framework of the group’s strategy and direction in carrying out purchases and stimulating growth, through the acquisition of profitable companies and businesses, finding common capabilities and investing in expanding resources, as well as enhancing the ability to grow and expand and improve profit margins.
Jawad Hassan, Head of Media and Communication Sector at Multipleplay Group, said: Our commitment to investing in Media 247 reflects the group’s focus on developing its media and communication sector, and its endeavor to unify assets in the field of outdoor advertising spaces, noting that “Media 247” is one of the most prominent media companies. Specialized in outdoor advertising, and the group shares one growth philosophy with it, as it will focus on business development and expansion through investment.
Media 247 has a track record of success and distinction in terms of performance and profitability, as it has proven its ability to withstand challenges and crises such as those resulting from the Covid-19 pandemic.
Hassan added: With us reaching the final stages of the agreement and the few points that need to be completed, we have every confidence in the management team’s ability to close this deal and reach the finish line.
For his part, Rafik Abu Hijleh, founder and president of “Media 247” said: “We are pleased to cooperate with one of the largest and fastest growing holding companies in the UAE, as this acquisition represents a milestone in the business process of Media 247 since its establishment in 2005, and the launch of its career.” In providing the best exclusive external and advertising media solutions, pointing out that “Media 247” has made important and qualitative steps towards achieving growth goals, and this partnership will enable the company to enhance the company’s offerings to meet customer expectations and expand its network of advertising assets at the level of the UAE and abroad.
Multipleplay Group continues to deploy capital through its two distinct arms (Multiplay and Multipleplay +), whereby Multipleplay invests in four current sectors: Mobility, Energy and Utility Services, Media and Communication, Health Fitness and Beauty, while the investment arm and sector-neutral “Multiplay+” is looking generated double-digit returns across a number of different asset classes.
The procedures for finalizing and completing the agreement are subject to the terms and conditions of the regulators.
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