Aegis buys airport advertising firm PSI in £5.2m deal
LONDON - Aegis Group, owner of Carat, has acquired airport advertising specialist PSI in a deal worth £5.2m.
The company, which specialises in planning and buying advertising in airports, was founded in 1999 from a management buyout of Primesight International. At Aegis, it will join the holding company's global outdoor media network Posterscope.
Doug Flynn, chief executive of Aegis, said: "We view airport advertising as a robust and growing market, especially for multinational advertisers who want to reach the exclusive business traveller audience.
"PSI is the UK's premier airport advertising expert and its acquisition enhances Posterscope's position as Britain's leading outdoor media specialist. Posterscope has grown rapidly in recent years and we are now close to having a truly global outdoor network."
Posterscope has offices in Europe, the US and Asia Pacific, and billings of around £900m. In the UK, it has 98 staff and a 42% share of the specialist market.
Airport advertising revenues have proven resilient despite the impact of SARS and the war in Iraq on passenger numbers. JCDecaux, the French advertising giant that owns a large number of airport advertising sites, recorded a 3.5% rise in organic revenues in its transport division during the first half of the year.
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