Dubai-based MMP World Wide (MMPWW) has announced its acquisition by LifeOnScreen in a AED110 million ($29.95 million) deal that will see the programmatic pioneer integrated into state-of-the-art technology for 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 yielded a 22x return on Akama’s initial investment, resulting in a significant return for its investors.
“It’s been an incredible journey to get to this stage and the time is right for a transition. The shared values and ambitions of both companies align perfectly and although it’s bittersweet to say goodbye, I know that I’m leaving the team in excellent hands. Congratulations to everyone - I wish them all the best with this new phase.”
Powered by automation to scale delivery of communications to consumers, MMPWW aims to create the next generation ad tech solution through effective data mining and tech driven attribution modeling, offering a cookieless targeting approach to digital advertising.
The deal will allow LifeOnScreen to advance further into the digital and tech space, consolidating the full MMPWW portfolio and aid expansion into new markets. A key draw for the acquisition, MMPWW’s strong foothold across the EMEA and APAC will strengthen LifeOnScreen’s presence in these countries and broaden their current offering.
Echoing the sentiment, MMPWW CEO Ayman Haydar, commented: “This is a very exciting and emotional time for the whole MMPWW family as we look forward to the next company chapter. As we say goodbye to the group I don’t see this as the end, but a new starting point for the business to build on its recent successes and create new and long lasting relationships.”
MMPWW has dominated the programmatic space since the company’s inception in 2016, continuously evolving its proposition to lead the ad tech agenda in the region and bring new technologies to the market.
Ayman said: “The transition has been smooth and I know I speak for all of my team when I say we welcome the opportunity to advance to the next level with the full backing of LifeOnScreen.
“We’re delighted that our new owner can see the value in what MMP has built and this acquisition is a testament to everyone’s hard work. Together we are ready to create a new future, continuing to provide impactful solutions for all our clients.”
Saeed Alshamsi, Managing Partner at LifeOnScreen, added: “We are very happy to have added the region’s leading programmatic provider to our group. Their strong performance and innovation within the space fits perfectly with what we want to accomplish locally and serves as a firm foundation for international growth. We share the same vision and goals and together the sky’s the limit to what we can achieve.” - TradeArabia News Service
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