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IHC's unit acquires stake in US-based digital media platform

IHC's unit acquires stake in US-based digital media platform
The transaction will enable Firefly to expand its operations in the Middle East
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UAE - Mubasher: Multiply Marketing Consultancy (MMC), a wholly-owned subsidiary of International Holdings Company (IHC), has acquired a minority stake in the US-based Firefly, a street-level digital media platform connecting audiences with dynamic media on taxis and rideshare vehicles.

The transaction will enable Firefly to expand its operations in the Middle East for the first time through a joint-venture office based within MMC’s headquarters in Abu Dhabi, according to a press release on Sunday.

The acquisition comes following MMC’s investment in New York-based Yieldmo, a digital advertising and attention analytics company.

Backed by premier investors such as Google Ventures, NFX, and Stanford University’s StartX Fund, Firefly works with taxi companies and rideshare drivers across US major cities to install its proprietary advertising displays atop their vehicles.

The CEO of MMC, Samia Bouazza, commented: "Firefly’s investment will bring more value to all advertisers seeking to personalise their messaging and hyper-target their audiences."

Bouazza added: "Investments in our Communications vertical ensure that our media teams are servicing our local clients with the latest, most innovative and analytically-precise technology available on the market."