Jan 13 (Reuters) - T-Mobile US ( TMUS ) said on Monday
it has agreed to acquire Vistar Media, a real-time outdoor
advertising technology provider, for about $600 million, in an
all-cash deal.
The deal would strengthen the telecom provider's advertising
business by giving a foothold in the digital out-of-home (DOOH)
advertising market, as brands transition from static billboards
to more creative and engaging digital screens.
DOOH advertising is projected to account for 42% of total
OOH revenue in 2025, according to the UK's WPP's ( WPP ) media
investment firm GroupM.
T-Mobile will acquire all of Vistar Media's marketplace and
technology solutions for buying, selling and managing media
campaigns across 1.1 million digital screens provided by OOH
media houses and brand advertisers.
The transaction is expected to close in the first quarter of
2025.
"Combining T-Mobile's customer-centric approach and its
expertise as one of the nation's most scaled marketers, with
Vistar's leading out-of-home technology means advertisers can
easily place their ads where they know their audience will be,"
said JP Colaco, chief T-Ads officer of T-Mobile.
"T-Mobile's belief in the future of OOH - and their decision
to acquire Vistar - underscores the strength of this channel"
said Michael Provenzano, CEO of Vistar Media.