According to the inked memorandum of understanding, IDOOH agrees to provide MOVAD with necessary infrastructures to operate its business activities broken down in phases.
In using IDOOH’s infrastructures, MOVAD will pay the fee to the largest network of in-vehicle screens in Asia Pacific.
Both parties have agreed to engage in cooperative activities to harmonise and improve the products to pursue long-term, mutually beneficial cooperation in the future.
MOVAD chief executive officer (CEO), Quan Nguyen said MOVAD was one of the most advanced in-car advertising platforms in the market, especially with facial recognition technology and an interactive ability for audiences.
“In long term, we aim to use the highest potential of IDOOH's infrastructure to maximise both parties’ benefits and continue investing in technology to create competitive strength for the alliance,” Nguyen said.
Meanwhile, IDOOH CEO, Mark Forsyth said with experience developing in-vehicle advertisement in different markets in ASEAN, the company believed the strategic cooperation would help build a strong, highly competitive out-of-home channel for advertisers in the region.
-- BERNAMA
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