Atairos, which currently owns 37.9% of Ocean Outdoor, will purchase the remaining shares of the London-listed DOOH media company in a deal that values the company at about $580 million, Reuters reports. Atoll Bidco, a unit of private investment company Atairos, will pay $10.40 per share in cash to shareholders. More on Atairos as $4B Comcast financed fund
Hugely exciting times for the Ocean team, our clients and our partners. Looking forward to the next stage of the voyage, it will be something else.
– Richard Malton, CMO at Ocean Outdoor
“The proposal from Atairos can deliver clear benefits to the wider stakeholder group, providing support for Ocean as it continues to invest in its people and technology and expand its scope and reach across new and existing markets,” Ocean Chief Executive Officer Tim Bleakley said.
About Ocean Outdoor
Ocean Outdoor is a leading operator of digital out-of-home (DOOH) advertising across the UK, Northern and Continental Europe. The Group’s network of 4,000+ screens covers seven countries and 351 cities with its technological capabilities delivering the most impactful and measurable DOOH brand and advertising experiences.
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