Tritech Media, South Africa’s media technology innovator has announced the acquisition of a 25% holding in real-time location-based technology leader ProximityID with an option to increase to a majority share if agreed upon.
Tritech Media recently announced its entry in this attractive sector with the acquisition of 50.1% in Ionizr, the pioneer in real-time proximity advertising technology in South Africa and the acquisition of ProximityID is a plus to the firm.
In the advertising sector, real-time location-based marketing in shopping malls and retail tenants is considered to have a fast growth; projected to grow from US$4.5 billion currently to US$18.0 billion in 2018, affirming the dramatic shift advertisers are making from traditional media to technology-underpinned precision-based communication channels.
William Kirsh CEO and founder of Tritech Media commented: “We are delighted shortly after the Ionizr acquisition, to now further entrench ourselves in this attractive, fast-growing sector of the advertising industry.
ProximityID and Ionizr have such a great complementary fit. This acquisition further underscores our leading position as South Africa’s only and leading corporate precision-based communications group. Both Ionizr and ProximityID will also benefit from the geospatial data around shopping malls from our recently-announced acquisition of Geospatial Data Solutions.”
With the combination of ProximityID and Ionizr, Tritech Media is now capable of delivering on every discipline of real-time location-based advertisin. The difference between Ionizr and ProximityID is in the level of detail delivered to drive communications.
Wayne Gluckmann CEO and Co-Founder of ProximityID commented: “We are excited to become part of Tritech Media, the complementary fit with Ionizr is compelling. The relationship with Ionizr will speed up our route to market and its scope. We look forward to working together on this unique end-to-end solution, providing retailers and shopping centre owners with a 360-degree view of their customer’s journey and the ability to offer pin-point personalized engagement.”