Mood Media Corporation moves to seize visual opportunity with BIS acquisition

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[{"type":"text","content":"\n\n\n\n\n\nTORONTO, May 31, 2012 /CNW/ - Leading in-store media provider Mood Media\n Corporation (TSX:MM/ LSE AIM:MM) (\"Mood\"), today announced the\n acquisition of BIS Group (\"BIS\")1, a leading provider of audio-visual services in Europe, for\n consideration of €22.5 M in cash.\n\n\nBIS is a leader in corporate and commercial audio-visual installation in\n the Benelux region (Belgium, Netherlands, Luxembourg).  In the year\n ended December 31, 2011, BIS recorded revenue of €46.1 M and Profit\n Before Tax of €2.6 M.\n\n\nLorne Abony, CEO & Chairman of Mood Media Corporation, commented:\n\n\n\"We are excited about the BIS acquisition for a number of reasons. \n Firstly, the acquisition's merits on a stand-alone basis are\n compelling; Mood is acquiring a well-established business with a strong\n market position at an attractive value.\n\n\nMost critically, however, we believe that BIS's sophisticated and\n comprehensive installation capabilities will enable Mood to better\n capitalize on its tremendous visual market opportunity and grow its\n visual recurring revenue base more efficiently.\n\n\nThe acquisition is in lock-step with Mood's growth strategy of driving\n organic sales growth by enabling the enlarged group to offer an\n expanded range of products and services.  The integration of BIS with\n Mood also offers further opportunities to centralize and realize scale\n economies from the combined organization.\n\n\nThe BIS acquisition further extends Mood's leadership in Europe, and we\n look forward to accelerating our growth by leveraging the strengths of\n the combined organization.\"\n\n\nAbout Mood Media Corporation \nMood Media Corporation (TSX:MM/ LSE AIM:MM), named Canada's fastest\n growing company by PROFIT Magazine is a leading in-store media\n specialist that helps its clients communicate with consumers with a\n view to driving incremental sales at the point-of-purchase.\n\n\nMood Media Corporation works with 580,000 commercial locations in over\n 40 countries throughout North America, Europe, Asia and Australia.\n\n\nThrough its subsidiaries, Mood Media Corporation's products and services\n reach 100 million people every day in a broad client base including\n more than 850 U.S. and international brands in diverse market sectors\n that include: retail, from fashio...

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