MONTREAL – Stingray has arrived in the European market after acquiring in-store media provider DJ-Matic.
Launched in 2000, DJ-Matic serves clients in industries such as bars and pubs, retail stores, restaurants, hotels, and fitness centers. The deal provides Stingray Business with commercial clients in 10,000 locations across Belgium, the Netherlands, Germany, and Denmark.
Under the terms of the agreement, Stingray will fully own and operate DJ-Matic with the continued direction of the company’s current leadership team.
Stingray said Friday that the strategic acquisition supports its business plan and growth strategy by giving Stingray Business a solid foothold in Europe and a share in the local demand for entertainment services that are specially curated and licensed for commercial use.
Already a leader in the in-store media industry with clients in 78,000 locations, Stingray Business has been on a growth streak in the past year. In 2017, it signed its largest contract to date with Mexico’s Farmacias del Ahorro drugstore chain, entered the Australian market with the acquisitions of SBA Music and SMA Entertainment, and in August acquired Toronto-based digital media provider Novramedia.
“Stingray has been present in Europe for close to a decade and has established a solid reputation as a provider of music and video services for pay TV providers such as Orange, Free, Telenet, and Proximus,” said Eric Boyko, president, co-founder and CEO of Stingray, in the news release. ”The acquisition of DJ-Matic adds an important building block to our commercial offering and will be at the core of our European expansion strategy. I look forward to developing a new client base that will benefit from the expertise we have accrued with businesses in Canada, Mexico, and Australia. I am confident that with the continued support of DJ-Matic’s leadership, we will establish Stingray Business as the go-to background music provider across the continent.”
