Fluid Music buys Mood Media, eyes U.S. retailers
Mood Media, which provides digital signage as well as music, radio and scent to retailers, has been acquired by Canada’s Fluid Music for €160m ($193m).
Headquartered in Luxembourg, Mood operates in 35 nations and has annual revenue of around $130m, with earnings before interest, tax, depreciation and amortisation of about $31m.
“Fluid Music’s large North America customer base provides an excellent entry point to expand Mood Media’s visual media and scent products into the U.S.,” said Jonathan Patrick, Mood’s CEO. It is also expected that Mood’s services will be strengthened by access to Fluid’s large music library.
“Smart marketers are taking consumers back in-store where there is significantly more potential to influence purchasing decisions. International brands are using a mix of music, visuals and scent to give their customers the ultimate experience and one which reflects their brand,” added Patrick.
Fluid, through its Somerset Entertainment subsidiary, already works with major retailers including Costco, Shoppers Drug Mart, Target and Wal-Mart to sell music to consumers, and its Trusonic subsidiary offers in-store music.
While Mood’s business will be able to exploit these relationships, Fluid – traded on the Toronto stock exchange – will benefit from Mood’s international presence.
Philippe G. von Stauffenberg, executive chairman of Mood and a major shareholder before the acquisition, joins Fluid’s board as vice chairman.
www.fluidmusic.com
www.moodmedia.com
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