Companies will develop new projects and products, in addition to marketing media
UOL announced the purchase of approximately 29% of NEOOH’s shares, forming a strategic alliance that will allow the joint development of new projects and products, in addition to the commercialization of its media.
“We are very excited about this partnership, which represents a milestone in the Brazilian media market. NEOOH has been growing rapidly, mainly due to investments made in the acquisition and digitalization of new assets, and is a reference in the out-of-home media market in Brazil. UOL and NEOOH share the same vision of innovation and quality, and together we will be able to offer our customers and users a unique and differentiated experience in media and advertising”, says Paulo Samia, CEO of UOL.
The partnership will leverage UOL’s content, coverage, data and advertising offerings combined with NEOOH’s extensive out-of-home media network, allowing advertisers to extend online campaigns to out-of-home media, while at the same time allowing out-of-home campaigns to increase online exposure.
Additionally, the two companies will also work together to create products and solutions that combine the best of both media, such as interactive, data-driven and personalized content.
“UOL’s entry into NEOOH’s capital is not a simple financial transaction. It is a strategic alliance carefully structured to catalyze synergies, towards leadership in the out-of-home market in Brazil”, says Cristiano Muniz, Co-President and CFO of NEOOH.
The transaction is subject to CADE approval and the two companies will announce further details and initiatives in the coming months.
