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Dubai-based MMP World Wide (MMPWW) has announced that it has been acquired by LifeOnScreen for AED 110 million (US$ 29.95 million), the programmatic pioneer that will incorporate state-of-the-art screens and digital out-of-home (DOOH) solutions.
Alexandre Hawari, CEO of Akama Holding, said: “Today we announce the successful sale of our entire stake in MMPWW. The sale represents a 22-fold return on Akama’s initial investment and a solid return for its investors.
“Getting to this stage has been an incredible journey and now is the time for the transition. The shared values and aspirations of the two companies are perfectly aligned and while it is bittersweet to say goodbye, I know I will be leaving the team in great hands. Congratulations Everyone — I wish them all the best in this new phase.”
MMPWW expands communication delivery to consumers with the support of automation, aiming to create next-generation ad tech solutions through effective data mining and technology-driven attribution modeling, providing a cookie-free targeting method for digital advertising.
The transaction will further move LifeOnScreen into the digital and technology space, strengthen the full MMPWW product portfolio and help expand into new markets. MMPWW’s strong foothold in EMEA and APAC will strengthen LifeOnScreen’s presence in these countries and expand its existing product range, a key attraction of the acquisition.
Ayman Haydar, CEO of MMPWW, agrees: “This is a very exciting time for the entire MMPWW family as we look forward to the next chapter of the company. As we say goodbye to the team, I don’t see it as the end , but a fresh start for businesses to build on recent successes and build on new, lasting relationships.”
Since the company’s inception in 2016, MMPWW has dominated the programmatic space, evolving its proposition to lead the region’s ad tech agenda and bring new technologies to market.
Ayman said: “The transition has been smooth and I know I speak for all of my team in saying that we welcome the opportunity to take this to the next level with the full support of LifeOnScreen.
“We are delighted that our new owners are able to see the value that MMP has built, and this acquisition is a testament to everyone’s hard work. Together, we are ready to create a new future and continue to deliver impactful solutions to all of our clients .”
Saeed Alshamsi, Managing Partner at LifeOnScreen, added: “We are delighted to have the region’s leading programmatic provider join our team. Their excellence and innovation in the space is a perfect fit with what we want to achieve locally and provide international There is a solid foundation for growth. We share the same vision and goals, working together, the sky is the limit of what we can achieve.” – trade arab news agency
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