ANKARA (Turkey), July 15 (SeeNews) - German outdoor advertising agency Stroeer said on Monday it will buy a 53.4% stake in Ballroom Group, an online advertising sales network with focus on Turkey and Eastern Europe.
Stroeer will take over full control of business operations at Ballroom with the aim to launch its new business model in its core markets of Turkey and Poland, Stroeer said in a statement.
Ballroom's services portfolio includes ad exchange services, video and display advertising and performance marketing. The company posted some 30 million euro ($39 million) in consolidated sales in 2012. Besides Turkey and Poland, Ballroom also operates in Hungary, Romania and the Czech Republic.
"In Turkey, Stroeer is already market leader in out-of-home advertising. Now, by joining forces with Ballroom, Stroeer has also acquired the top spot in online advertising," the statement said.
The transaction is subject to regulatory approvals.
($ = 0.767 euro)