Taxi and ride-share vehicle management business P2P Transport (ASX: P2P) has completed its latest acquisition, establishing the company as Australia's largest taxi advertising network.
The company has acquired Nonstop Media, a national provider of "static backs" which are attached to the read of taxis and act as a platform for advertising.
Nonstop's customer base comprises long-term taxi advertisers in the financial services industry, major international fast food chains, and domestic government authorities.
Managing director of P2P Tom Varga says the acquisition broadens the scope of the company's operations.
"The acquisition supports P2P in creating the national Adflow digital and static advertising platform across its own and third party fleet of taxis," says Varga.
Adflow provides technology-led digital top advertising and offers fully customised and targeted advertising options.
Adflow's fleet of over 3,900+ taxis, corporate hire and ride-share cars creates round-the-clock transit reach across regional and metropolitan Australia and offers clients a full range of taxi advertising including static wrap solutions, taxi backs, in-vehicle taxi TV and digital taxi top signage.
The first 300 Adflow digital taxi top units are being delivered and fitted to vehicles in Sydney, Melbourne and Brisbane, with soft launches occurring now in these cities ahead of a formal launch in mid-December 2018.
"Advertising on taxis is a high margin service that can be leveraged from our expanding fleet. Adflow is a major new technology led service that will have extensive visual appeal and marketing presence for its advertisers," says Varga.
"The static backs complement our existing advertising options with additional scale and presence. Nonstop Media's team and clients will also allow us to accelerate the growth of Adflow."
Business News Australia
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