OAM is entering into a joint venture with leading media group Ringier AG to consolidate their pan-African assets into a company to be known as ROAM. This excludes the South African assets of Private Property and Safarinow which will stay under the OAM umbrella.
This seems to be the recent trend in the tech hemisphere, new companies and products are springing up, while the mature ones are consolidating and re-positioning. Recently, Interswitch acquired Vanso, a company that provides financial technology, mostly to banks, in a N15 billion buyout.
Ringier which is a notable media group and a venture capitalist publishes over 120 newspapers and magazines across Europe and Asia and owns and operates dominant classifieds and e-commerce platforms around the world in General Classifieds, Cars, Property, Jobs as well as numerous content sites, e-ticketing and e-commerce and has 150 years of classified experience. Some of their assets in Nigeria includes Pulse.ng, Ringier Digital Marketing, and recently acquired DealDey.
According to our source, ROAM is now strategically positioned to lead the classifieds development across Africa, not only in English-speaking countries but also in Francophone countries, covering both vertical – car, real estate, and jobs – and horizontal classifieds businesses. One Africa Media’s classified assets Jobberman, Cheki, Brighter Monday, Private Property Nigeria and BuyRentKenya will now be complemented with ZoomTanzania, Expat-Dakar, MaMaison, Pigiame and Qefira and more to follow, reinforcing their position as the undisputed leading classifieds group in Africa.
In ROAM, the leadership of the groups’ classifieds companies will be joined together and OAM’s CEO Justin Clarke will become the Acting CEO of the new group.
“We have been looking for the right strategic partner with a similar broad vision for classifieds in Africa and who has a deep understanding of how things work in this complex continent as well as the long-term commitment to stay the distance in some very large but early stage markets…” – One Africa Media & Ringier One Africa Media CEO Justin Clarke.
Ringier Africa GM Leonard Stiegeler: “The joint focus of ROAM will be to continue to serve its users across Africa with best-in-class marketplace platforms. Combining the group’s strengths will help our users reach a larger audience with their offers and find what they are looking for easier and faster. We believe this is a great synergy between two giant investors in Africa, this will help solidify these individual organization in their various industries.
The synergies between the two groups are exciting as it will complement each other’s strengths and weaknesses. OAM has invested heavily in building a very strong engineering team in Cape Town and has some exceptionally good platforms and tech set-up which will be used across the group. Ringier Africa has set up great integrated operations and marketing across the continent, which OAM will be able to benefit from in scaling the joint business.
However, we hope this collaboration immediately reflects in a strong management team coming together and joining forces to support the existing platforms and we also hope to see more partnerships and acquisitions before 2016 runs out.Share This