In a fresh move to expand its frontiers in the media and marketing communications industry, ID Africa, a leading Nigerian digital agency has acquired NET Newspaper Limited (NNL).
According to a statement jointly signed by both organisations, the acquisition would see ID Africa take up controlling shares and oversee the management of properties such as TheNETng, NECLive, 234Star, Neusroom, Orin, NETshop and other NET News properties.
With an average year-on-year revenue growth of 40 per cent, Info Digital Africa, a Creative Communications and Digital Marketing company founded in 2015 is believed to be one of the fastest growing digital marketing, media and communications companies in Nigeria.
“Over the years, the digital agency has built a commendable track record which includes executing over 150 successful marketing campaigns, contributing to the growth of various international brands, as well as creating over 20,000 hours of video content, which have amassed over 15 million views across digital platforms.
“Upon conclusion of this business combination process, the digital company will become a formidable 360 marketing communications and media company using technology and creative content to connect brands and individuals with their target audiences.
“Under its new operation, it will look to deliver technology solutions, consumer products, marketing communications services, as well as media and publishing services through its news, entertainment and lifestyle content platforms,” the statement added.
In addition to the acquisition, Femi Falodun, currently COO at ID Africa, has been announced as the new Chief Executive Officer of ID Africa.