RED FLAG IN CHINA IS ACQUIRED BY JINGWEI
10 Feb 2008
Jingwei International is to acquire Henan Red Flag for RMB 90.0 million (US$12M)
Red Flag is a leading digital outdoor advertising company in China, with LED/LCD panels placed at bus stands. The Company operates roughly 2,000 outdoor advertising panels, of which 1,000 are LED displays, through its exclusive contract with the capital city of Zhengzhou. With contracts to roll out into five additional cities in 2008, it is on the verge of a major expansion phase.
Jingwei is one of the leading providers of data mining and customer relationship marketing services in China. It has a customer database of over 300 million Chinese consumers, and it works with leading Chinese companies to help them reach their target audiences.
Regis Kwong, Chief Executive Officer of Jingwei International, stated, "We are positioning Jingwei to be the leading consumer marketing company in China and we feel this potentially high-growth, high-profit margin business is a natural progression for Jingwei. Our ability to use consumer data to execute targeted marketing campaigns on a real time basis, and then own the advertising platform itself, is extremely compelling to us."
AKA COMMENT
The sheer scale of the digital signage roll outs in China continues to impress. For every 10, 50 & 100 unit outdoor implementation we hear about in the West - there is a 1000, 10,000 & 100,000 implementation already out there in China.