Tritech Media acquires 25% stake in location-based ad startup, ProximityID

Tritech Media, a South African-based media technology company, has announced the acquisition of a 25% stake in realtime location-based advertising startup, ProximityID.

ProximityID is a smartphone based app, which determines a user’s location and can be used by retailers at shopping malls to better market and promote their products.

Its vision is to bridge the gap between customer and retailer in a highly precise and innovative way to improve the customer’s shopping experience and provide retailers with the ability to provide unparalleled customer service.

The sum involved in the transaction was not disclosed but Tritech Media has an option of increasing its stake to 50.1%.

According to Tritech Media, real-time location-based marketing in shopping malls and retail tenants is a growing sector of the advertising industry but remains largely untapped in South Africa.

It is for this reason it is investing in ProximityID to have a first-mover advantage. It first made incursions into the space when it acquired a 51% Stake In Ionizr, the pioneer in real-time proximity advertising technology in South Africa, in April 2016.

“We are delighted shortly after the Ionizr acquisition, to now further entrench ourselves in this attractive, fast-growing sector of the advertising industry. ProximityID and Ionizr have such a great complementary fit,” said William Kirsh, CEO and founder of Tritech Media.

He added, “This acquisition further underscores our leading position as South Africa’s only and leading corporate precision-based communications group. Both Ionizr and ProximityID will also benefit from the geospatial data around shopping malls from our recently-announced acquisition of Geospatial Data Solutions.”

With investments in both startups, Tritech Media is now capable of
delivering on every discipline of real-time location-based advertising, which it considers a world-first.

CEO and Co-Founder of ProximityID, Wayne Gluckmann said, “We are
excited to become part of Tritech Media, the complementary fit with Ionizr is compelling. The relationship with Ionizr will speed up our route to market and its scope. We look forward to working together on this unique end-to-end solution, providing retailers and shopping centre owners with a 360-degree view of their customer’s journey and the ability to offer pin-point personalised engagement.”

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