Mood Media sells its residential Latin American music operations to Stingray Digital

January 10, 2014 — Fusion DigiNet

Mood Media Corporation is to sell its residential Latin American music operations to its long-term independent affiliate and operating partner, Stingray Digital for $16.3 million.

Under the terms of the agreement, Mood Media will receive an initial cash payment of $10 million and an intercompany settlement of $1.4M. Upon the residential Latin American operations’ achievement of certain key performance indicators, Stingray will pay Mood Media the remaining amount over a period of 18 months.

“This transaction strengthens our balance sheet as we execute our strategy to broaden audio, visual, mobile, scent and experiential solutions to support current and prospective clients,” said Steve Richards, Chief Executive Officer and President. “We are pleased to achieve this milestone, further underscoring Mood’s commitment to delivering growth and enhanced returns for stakeholders. We will continue to evaluate opportunities to simplify our portfolio, leverage Mood operating infrastructure and resources to deepen relationships with clients, and create heightened value for shareholders. We remain focused on achieving our vision for ensuring Mood Media is recognized as the global leader for In-Store and In-Office Experiential Solutions.”

Canada, Toronto & Latin America

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Posted in Marketing/Advertising, ~Latin America and Caribbean, ~North America. Tags: , , . Leave a Comment »

Mood Media Corporation acquires BIS for €22.5M

June 1, 2012 — Fusion DigiNet

Mood Media Corporation has acquired BIS Group, a provider of commercial audio-visual installation in the Benelux region, for a consideration of €22.5 million in cash. Mood Media is an in-store media specialist that helps its clients communicate with consumers with a view to driving incremental sales at the point-of-purchase.

In the year ended December 31, 2011, BIS recorded revenue of €46.1 M and Profit Before Tax of €2.6 M.

Lorne Abony, CEO & Chairman of Mood Media Corporation, commented, “We are excited about the BIS acquisition for a number of reasons.  Firstly, the acquisition’s merits on a stand-alone basis are compelling; Mood is acquiring a well-established business with a strong market position at an attractive value. Most critically, however, we believe that BIS’s sophisticated and comprehensive installation capabilities will enable Mood to better capitalize on its tremendous visual market opportunity and grow its visual recurring revenue base more efficiently.

The acquisition is in step with Mood’s growth strategy of driving organic sales growth by enabling the enlarged group to offer an expanded range of products and services.  The integration of BIS with Mood also offers further opportunities to centralise and realise scale economies from the combined organisation.

Canada, Toronto & The Netherlands, Ridderkerk

Posted in B2B Services, Broadcasting, Consultancy, Content Media, Internet Media, Marketing/Advertising, ~Europe, ~North America. Tags: , , , . Leave a Comment »