- Media and entertainment company, Stingray Group (TSX:RAY), has acquired marketing solutions company, Marketing Sensorial México
- MSM specialises in digital signage content production, in-store music, and audio and visual equipment
- MSM has a portfolio of clients that includes banks, pharmacies and automotive dealerships like BMW
- Under the terms of the agreement, Stingray will fully own and operate MSM’s business and assets
- Stingray is up 0.46 per cent, and is currently trading for C$4.39 per share
Media and entertainment company, Stingray Group (TSX:RAY), has acquired marketing solutions company, Marketing Sensorial México.
Stingray and MSM were already trusted affiliates before the acquisition took place. MSM is Stingray’s current partner for 1,500 pharmacy locations and 1,500 medical clinics, operated by Farmacias del Ahorro.
This latest agreement brings the two companies even closer together, and strengthens Stingray’s foothold in Mexico.
MSM specialises in a variety of marketing services, including content production for digital signage. It also provides solutions for in-store music and the sale or lease of audio and visual equipment.
MSM has worked at over 5,800 locations within numerous industries, including banking, retail pharmacy and automotive dealerships. Its impressive portfolio of clients includes Grupo Financiero Santander México, Scotiabank México and BMW.
Per the terms of the acquisition agreement, Stingray will fully own and operate MSM’s business and assets. As such, Stingray will combine its own offerings with MSM’s to provide a one-stop-shop for entertainment needs.
Through the acquisition, the company will provide digital signage, customised background music, custom messaging and AI-driven customer feedback.
Stingray’s CEO, Eric Boyko, commented on the acquisition.
“Improving the in-store customer experience at every level is Stingray Business’ mission. The acquisition of the MSM business adds an important building block to our offering, while adding new prestigious brands to our already impressive client portfolio.
“I am confident that with the continued support of MSM’s leadership team, we will reaffirm Stingray Business as the leading provider of state-of-the-art digital media solutions,” he said.
Marketing Sensorial México’s CEO, Jacobo Jafif, also welcomed the development.
“We have built over the last 10 years a unique company that has served many of the most important brands in Mexico.
“I’m confident that this acquisition will position Stingray as the leader in the Latin American market, and will continue delivering great content, unmatched creativity and best-in-class in-store media solutions,” he said.
Stingray is up 0.46 per cent, and is trading for C$4.39 per share, as of 12:01pm EDT.