Arabian Contracting Services Co. Announces an update on signing of a Memorandum of Understanding with Multiply Group's Media Vertical
| Element List | Explanation |
|---|---|
| Introduction | Referring to the announcement by Arabian Contracting Services Co. dated 05/10/1446H corresponding to 03/04/2025G and published on the Saudi Exchange website regarding the signing of a Memorandum of Understanding with Multiply Group's Media Vertical.
The Company announces that it has agreed with Multiply Group's Media Vertical that the duration of the MoU shall be extended and shall remain in effect until terminated by either party, provided that the terminating party gives thirty (30) days’ prior written notice. All other terms and conditions of the MoU shall remain unchanged and in full force and effect. Arabian Contracting Services Co. signed this on 10/03/1447H, corresponding to 02/09/2025G
This collaboration focuses on exploring joint acquisition opportunities and investments in OOH advertising with an emphasis on expansion beyond the MENA regions, the MoU includes a key provision for exploring joint investments in advertising technology and artificial intelligence within the OOH sector as it aligns with the industry's ongoing transformation and emphasizes the development of advanced advertising platforms, including Supply-Side Platforms (SSP), these technologies will enhance the efficiency of reaching targeted advertising segments, improve overall sector sustainability, and integrate with the future of digital advertising. |
| Previous Announcement | Arabian Contracting Services Co. announces signing a Memorandum of Understanding with Multiply Group's Media Vertical for the creation of a joint entity dedicated to investing in the global out-of-home advertising sector, strengthening global presence and supporting expansion plans into international markets. |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-04-03 Corresponding to 1446-10-05 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The duration of the MoU shall be extended and shall remain in effect until terminated by either party, provided that the terminating party gives thirty (30) days’ prior written notice. All other terms and conditions of the MoU shall remain unchanged and in full force and effect. |
| Reasons For The Delay on The Date of The Event Previously Announced | None |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | None |
| Delay consequences on the Company’s financial results | None |
| Additional Information | This move reflects the ambitious global expansion vision shared by both Multiply Group and Al Arabia Outdoor Advertising, through the creation of a joint venture focused on capturing growth opportunities in out-of-home advertising and AdTech beyond the MENA region. The collaboration represents a key step in attracting investor interest in high-return opportunities and engaging technology partners seeking to scale.
This MoU marks a new chapter in international collaboration as both companies work together to pioneer cutting-edge advertising technology solutions. This strategic alliance positions them at the forefront of the industry, ensuring they remain competitive amid rapid advancements in the sector. The partnership will also drive business expansion, deliver innovative advertising solutions to global markets, and open new investment avenues while fostering industry sustainability. |
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