Toronto, Ontario: Cineplex Entertainment Limited Partnership ("Cineplex") announced today it has completed its previously announced plan to acquire Onsite Media Network Inc. ("Onsite") through a shareholder approved Plan of Arrangement. Onsite is an Alberta-based digital signage network company that broadcasts advertising and custom content to premium office towers and sports stadiums across Canada. The total transaction value is approximately $1.7 million.
The Onsite network includes a sports stadium network with 1,000 screens located at GM Place (Vancouver), Pengrowth Saddledome (Calgary), Rexall Place (Edmonton), Scotiabank Place (Ottawa) as well as a high-rise office tower network which features approximately 200 screens located in public concourses and food courts throughout 22 office towers in major metropolitan areas. Encompassing marquee properties in Toronto's vibrant PATH system, high profile locations along Calgary's PLUS 15 walkways, and Ottawa's downtown core, the Onsite networks will add more than 120 million annual impressions to the current Cineplex Media offerings.