Multiply Group to acquire a 55% stake in Media 247 for AED84m.

Multiply Group, an Abu Dhabi-based tech-focused holding company, agreed to acquire a 55% stake in Media 247, a specialized Outdoor Advertising Solutions provider, for AED84m. “Our commitment to invest in Media 247 reflects our focus on the growth of Multiply Group’s Media and Communications vertical and the consolidation of assets in the out-of-home media space. Media 247 is a well-established out-of-home media company that shares our philosophy of growth. Together, we will be focusing on growing the company both organically and inorganically. With its excellent inventory across Dubai, we are confident that we can leverage our combined expertise and resources to identify acquisitions, creating a stronger and more competitive business.” Jawad Hassan, Multiply Group Head of Media and Communications.