Acquisition of Medical Media
In December 2018, Swift Media Limited (formerly known as Swift Networks Group Limited), the provider of communications, content and advertising solutions, announced its planned acquisition of the shares in Medical Channel Pty Ltd (trading as Medical Media). Swift acquired the outstanding shares in Medical Media for total consideration of $25 million (via a combination of upfront and performance shares).
Medical Media is an Australian digital-out-of-home media network which delivers content & advertising to over 5 million viewers every month through more than 2,300 digital screens, with a significant market share in medical practices. Medical Media brings a network of over 2,800 advertisers, expanding in hyperlocal and regional advertising and attracting a number of premium, national brands. Medical Media adds new audiences and infrastructure to Swift’s footprint, providing scale and the opportunity to generate new revenues through advertising.
The transaction completed on 15 February 2019.
Azure acted as corporate adviser to Swift and advised on all aspects of the transaction including valuation and strategic advice, coordination of due diligence and negotiation of the relevant transaction agreements.