Motio Limited entered into binding terms to acquire Café and Venue Digital Place Based Networks from oOh!media Limited for AUD 2.35 million.

Motio Limited (ASX:MXO) entered into binding terms to acquire Café and Venue Digital Place Based Networks from oOh!media Limited (ASX:OML) for AUD 2.35 million on December 23, 2022. Motio limited acquired assets under a vendor financing facility provided by oOh!media i.e., the deal is being financed under a vendor financing facility provided by oOh! over four years at a fixed 10.1% annual interest only for the first year.

At completion, Motio will own and operate more than 1,500 digital displays across 1,000+ locations nationally. The transaction is expected to complete on March 1, 2023.