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.
OBMedia has been an underperforming part of the business for some time. Its model involves search traffic arbitrage, an area where multiple network layers obscure transparency and players are incentivised to manufacture traffic.
In April, OBMedia was forced to cut staff and pull out $7 million in costs, after it was severely impacted by a Google adtech change.
Enero Group informed the market via an ASX filing that FY25 revenue at the US-based OBMedia would be down up to 39% because of Google’s move from the Adsense for Domains (AFD) ad tech to Related Search on Content (RSOC).
The sale comes a few months after the group welcomed a new chief operating officer, Ian Ball, who replaced chief executive Brent Scrimshaw. He reports directly to Enero Group’s chair, Ian Rowden.
Ball said the divestment of OBMedia will support the group’s strategy to “focus on our award-winning agencies where we see the greatest potential for growth, differentiation, and value creation”. He is referring to BMF, Hotwire, and Orchard.
“Each agency has strong leadership, a distinct value proposition and a consistent track record of delivering world-class results for clients,” he said in a release.
“With a more defined portfolio, and an exclusive focus on building each of our agencies, we’re now committed to building the next chapter of growth, driving outstanding results for clients, attracting top talent, and delivering strong returns for shareholders.”
He said he is pleased that the agencies are delivering “innovative, world-class work”, as this provides a “solid foundation to capitalise on future growth opportunities”.
Enero Group has a market cap of $67.5 million. The group will announce its FY25 results on August 29, with additional financial details on the three agencies.
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Lauren McNamara is a freelance journalist contributing to Mumbrella. She previously spent three years at the publication, most recently as the associate editor. She first joined in 2022 after completing a Bachelor of Communications (Journalism) at UTS. She left her staff role at Mumbrella in August 2025.
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