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| - Aiming to become Thailand's first 'Data-Centric Media Hypermarket' - |
BANGKOK, Aug 23, 2016 - (ACN Newswire) - VGI Global Media (SET:VGI), the first and only company to provide an audience-targeted media service in Thailand, has announced acquisition of the Rabbit Businesses from the BTS Group (SET:BTS). The acquisition will enable VGI to become a 'Data-Centric Media Hypermarket', or 'DCMH', by using Rabbit data analytics capabilities to create innovative and effective audience targeted media services. The acquisition will also enhance VGI's online media services platform, in response to Thai consumers increasingly digital lifestyles, and broaden the Company's consumer reach to 25 million p.p.d. while boosting media production revenue capacity from THB 3,900 million to THB 7,300 million.
Mr Surachet Bamrungsuk, Chief Executive Officer of VGI, affirmed that the Directors at today's board meeting resolved to approve acquisition of the Rabbit Businesses, by acquiring 90% share in both Parent companies Bangkok Smartcard System Company Limited (BSS) and BSS Holdings Company Limited (BSSH). The investment in BSS and BSSH will require the total funding of THB 1,956 million. With this acquisition, VGI enters into an e-payment business that provides Rabbit Card as a payment tool for traveling on the BTS Sky Train and for purchasing merchandise from leading retailers countrywide.
VGI will also acquire an e-wallet business through Rabbit LINE Pay, a function embedded in LINE application (which is the most popular instant messaging platform with over 33 million active users in Thailand). This will enable users to purchase merchandise from online and brick-and-mortar retail stores, while allowing VGI the possibility to extend services to cover online payment for BTS Sky Train fares and retail purchases within Rabbit Card's merchants network nationwide through their mobile devices. Additional Rabbit Businesses consist of other online businesses operated by Rabbit Internet, including Rabbit Daily, which provides lifestyle content through a web portal, and Rabbit Finance, which is a licensed, leading online financial products comparison website previously known as ASK Hanuman.
"This is a strategic move which allows VGI to revolutionize traditional advertising by raising the effectiveness and measurability of advertising campaigns. We will use Rabbit's rich database, which currently has more than 7.2 million users, to roll out data analytics to support VGI's media planning, production and sales, and to ensure clients benefit from the nationwide data-driven media network. Furthermore, this will open new windows for VGI to spur innovation and to move and synchronize with today's digital consumer and contempoary lifestyle," said Mr. Surachet.
Currently, VGI manages media on BTS Sky Train stations, trains, office buildings, residential buildings and airports. The recent acquisition of shares in Master Ad PCL (SET:MACO) has allowed VGI to consolidate and further expand its out-of-home media network. Mr. Surachet mentioned that the company has spent nearly THB 3,000 million in a series of acquisitions this year; as such the business is expected to expand and continuously develop in catering to the modern lifestyles of todays consumers.
Contact:
M T Multimedia for VGI Global Media PCL
Orn-anong ("Fah") Pattaravejkul
Tel: +66 2612 2081 #129
Mobile: +66 8 6801 8888
E-mail: ornanong.p@mtmultimedia.com
Website: www.mtmultimedia.com
Topic: Merger & Acquisition
Source: VGI Global Media PCL
Sectors: Daily Finance, Broadcast, Film & Sat, Advertising, PE, VC & Alternatives
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From the Asia Corporate News Network
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