BANGKOK - VGI Global Media PCL (SET: VGI), Thailand's leading provider of lifestyle media solutions, has announced the acquisition of Rabbit Business from the BTS Group. The acquisition will enable VGI to become a 'DCMH', or 'Data-Centric Media Hypermarket', using Rabbit data analytic capabilities to create innovative and effective audience targeted media services. The acquisition will also enhance VGI's online media service platform, in response to consumers increasing digital lifestyles, broaden the Company's consumer reach to 25 million p.p.d., and boost media production revenue capacity from THB 3,900 million to THB 7,300 million.
Mr Surachet Bamrungsuk, Chief Executive Officer, VGI, revealed that the board of directors' meeting had resolved to approve the acquisition of 90% of the shares in Bangkok Smartcard System Company Limited (BSS) and 90% of the shares in BSS Holdings Company Limited (BSSH). The investment in BSS and BSSH will require the total funding of THB 1,956 million. With this acquisition, VGI enters into an e-payment business that provides Rabbit Card as a payment tool for traveling on the BTS Sky Train and for purchasing merchandise from leading retailers countrywide.
Additionally, VGI acquires an e-wallet business through Rabbit LINE Pay, a function embedded in LINE application (which is the most popular instant messaging platform with over 33 million active users in Thailand). This will enable users to purchase merchandise from online and brick-and-mortar retail stores, while allowing VGI the possibility to extend services to cover online payment for BTS Sky Train fares and retail purchases within Rabbit Card's merchants network nationwide through their mobile devices. Moreover, Rabbit Business also consists of other online businesses operated by Rabbit Internet, including Rabbit Daily, which provides lifestyle content through a web portal, and Rabbit Finance, which is a licensed, leading online financial products comparison website previously known as ASK Hanuman.
"This is a strategic move which allows VGI to revolutionize traditional advertising by raising the effectiveness and measurability of advertising campaigns. We will use Rabbit's rich database, which currently has more than 7.2 million users, to roll out data analytics to support VGI's media planning, production and sales, and to ensure clients benefit from the nationwide data-driven media network. Furthermore, this will open new windows for VGI to spur innovation and to move and synchronize with today's digital consumer and contempoary lifestyle," said Mr. Surachet.
Currently, VGI manages media on BTS Sky Train stations, trains, office buildings, residential buildings and airports. The recent acquisition of shares in Master Ad PCL (SET: MACO) has allowed VGI to consolidate and further expand its out-of-home media network. Mr. Surachet mentioned that the company has spent nearly THB 3,000 million in a series of acquisitions this year; as such the business is expected to expand and continuously develop in catering to the modern lifestyles of todays consumers.
About VGI Global Media PCL
VGI Global Media Public Company Limited (SET:VGI) is Thailand's major provider of out-of-home media solutions, having more than 10,000 items of large still-image screens in the BTS skytrain network and large retail stores nationwide. It also has over 11,000 sq.m. of advertising space in the product display zones of large modern trade stores, as well as about 5,000 items of digital screens and media in the BTS platform and train areas, the Tesco Lotus, Big C, and Watson stores, and large office towers throughout Bangkok, and mega LED and outdoor led screens under its management. In addition, the company runs retail shops in 23 BTS stations and radio networks covering nearly 2,000 modern trade stores in Thailand. For more information, please see www.vgi.co.th.
Contact:
M T Multimedia for VGI Global Media PCL
Orn-anong ("Fah") Pattaravejkul
Tel: +66 2612 2081 #129
Mobile: +66 8 6801 8888
E-mail: ornanong.p@mtmultimedia.com
- ASIA TODAY Newswire http://www.AsiaToday.com