QMS acquires ABsee and Switches On the Gold Coast!
QMS Media (QMS) has announced the completion of its acquisition of 51% of Australian Billboard Company Pty Ltd (“ABsee”). ABsee operates the Gold Coast City Council’s outdoor advertising concession for street furniture throughout the Gold Coast region.
The acquisition secures 700+ street furniture panels located from Coolangatta to Paradise Point and inland to Robina. QMS currently operates this outdoor advertising concession under a sales representation agreement.
Aligning with QMS’ digital growth strategy this acquisition provides significant digital conversion opportunities with 30 of the street furniture panels already digitised, and the intention to convert up to 100 panels before the Commonwealth Games in 2018.
QMS CEO, Barclay Nettlefold, said “We are extremely pleased with this acquisition. The Gold Coast market has limited scope for roadside billboards, so this exclusive street furniture concession provides unique access and coverage for advertisers in this market.
“We are excited by the digital conversion opportunities available to us with this street furniture concession, as we continue to deliver on our digital development pipeline and grow our platform of premium quality outdoor assets in 2016.”