With oOh!media’s 30,000 billboards, digital and static media, I Squared Capital has dealt itself a leading hand in Australasia’s media game.

The independent global infrastructure investor has announced its bid has been agreed, with a scheme implementation to acquire all its issued shares via a scheme of arrangement.

oOh!media shareholders receive A$1.70 cash per share, valuing the company at about A$898 million with an enterprise value of about A$1.04 billion – almost double its closing I

I Squared says it is ‘a strong strategic fit’, with its digital and static assets across Australia and New Zealand – spanning roadside billboards, street furniture, rail and transit networks, airports, retail environments and other public spaces – underpinning a leading market position.

“The acquisition reflects I Squared’s strategy of investing in scaled network businesses with established revenue bases, durable competitive advantages, and long-term growth potential, senior partner Harsh Agrawal said.

“oOh!media represents the type of infrastructure platform we seek to invest in – a market-leading business with high-quality assets, long-term contractual foundations and attractive growth opportunities,”  he said.

oOh! chair Philippa Kelly said the agreement followed “a comprehensive and competitive process” and aligned with the strategy of chief executive James Taylor and his leadership team.”

I Squared opened an office in Sydney in 2022, and has invested in several infrastructure platform businesses including energy, environmental, renewables, and transport and logistics.

The scheme remains subject to some conditions, but is expected to complete by the end of the year.

Headquartered in Miami, I Squared also has offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore and Taipei.