Enero Group sells struggling adtech business OBMedia
ASX-listed Enero Group has sold its majority stake of OBMedia to turn its focus onto its better performing agencies.
The group held 51% ownership in the adtech business, bought in 2006, and has sold it to the existing 49% minority shareholders. It has long been trying to sell the business, first announcing a “strategic review” in 2023.
Enero Group is the only locally listed agency holding company. According to the ASX announcement, the sale was completed for a nominal amount and the FY25 financial report will reflect a non-cash loss on sale in the range of $14-16 million.
