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.
