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Velocity acquires Impax
Posted on Friday, 16 October 2020 10:10
Velocity has snapped up Canada-based grocery store advertising network Impax Media for an undisclosed sum.
The acquisition will expand the buyer’s media services portfolio within the retail sector.
Impax provides in-store digital signage advertising for shoppers at checkout aisles in 49 grocery stores across New York City.
Headquartered in Quebec, the group offers product promotion and information displays, which help to increase sales and brand awareness, encourage impulse purchases and improve the overall customer experience.
Impax’s signages also enable retailers to analyse foot traffic in their stores and identify consumer spending habits.
Velocity is partnering with ScreenVision Media, a provider of cinema and premium video advertising services, which will become the strategic seller of the target’s advertising inventory.
Greg Kiley, chief executive of the buyer, said: “Covid-19 has made it very tough for businesses to return to normalcy. However, the grocery sector has never been more of an essential business as shown by the resiliency of the foot traffic during the pandemic.
“Impax is the latest addition to 'Front + Center Everywhere,' Screenvision's expanding OOH [out of home] network, that is designed to reach the highly engaged consumer beyond the cinema experience.”
The transaction will also allow Velocity to provide customers with a full suite of managed services to run a digital signage network and advertising operations.
Joe Ross, executive vice president of the purchaser’s sales and marketing division, noted: “We are looking forward to working with our Impax retailers and strategically exploring expansion within the grocery sector to enhance the shopper experience and the grocer's revenues.”
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 374 deals targeting advertising, public relations and related services providers announced worldwide in 2020 to date.
Clayton Dubilier & Rice, via CD&R Artemis UK Bidco, bought London-headquartered Huntsworth for GBP 524.00 million in the most valuable of these.
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