Telstra sells out of Adstream
Telstra has sold its majority stake in ad delivery service Adstream’s Australian and New Zealand operations in a deal with fellow shareholder Paul Ramsay Holdings.
The sale to Adstream Holdings, mainly owned by Paul Ramsay Holdings, follows five years of Telstra being the majority local owner in the company which helps all of Australia’s ad agencies deliver material to media owners. It now puts Adstream under common ownership with the rest of its international operation which runs across 26 offices globally.
Last year Adstream Australia distributed more than 400,000 print campaigns and 300,000 TV campaigns.
Prior to the deal, Adstream was part of Telstra’s subsidiary Sensis.
Adstream MD Peter Miller said: “Sensis has provided strategic and technical support and backed us in the development of innovative solutions.
“This is a terrific outcome for the employees and customers of Adstream Australia. We will be in the forefront of leading-edge thinking, cross-media campaign resource management and technology development. Being re-integrated into the global Adstream business will bring learnings and innovations we can swiftly bring to our customers locally.”
Paul Ramsay Holdings also has stakes in companies including Prime Media Group.
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