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Revez Corp acquires PGK Digital Networks for S$4m
TECHNOLOGY solutions provider Revez Corporation has acquired media company PGK Digital Networks (PGK) for S$4 million, in a bid to boost its technological capabilities. (see amendment note)
PGK is now its wholly-owned subsidiary, the Catalist-listed firm announced in a bourse filing on Tuesday.
Singapore-based PGK is the owner and operator of YOUTV network, a digital advertising network which has screens in places such as community centres, malls and coffee shops across the island. They potentially reach millions of viewers daily.
This move is strategically aligned with Revez's business vision - for clients and partners in both private and public sectors to access "full value-chain digitalisation", it said. Revez and PGK will leverage each other's domain knowledge and extensive networks to offer an "exceptional value proposition" to clients and partners, it said.
Giulio Dorrucci, founder and chief executive of PGK, said: "The partnership between PGK, with its established national media networks, and Revez, with its suite of cutting-edge creative solutions, is a powerful differentiator setting us apart from other conventional media owners.
"Interactivity and programmatic advertising will be our next frontier to instantly bridge the gap between our outdoor messages and the millions of residents, professionals, shoppers and commuters we reach every day."
Victor Neo, group chief executive of Revez, said: "Together, we want to transform the digital advertising and the digital out-of-home media landscape in more markets and grow the company's footprint globally."
Revez shares closed flat at S$0.350 on Tuesday.
Amendment note: An earlier version of this article incorrectly stated that Revez Corporation has acquired media company PGK for S$2.4 million, when it was in fact S$4 million. The article has been amended to reflect this change.