Lowenstein Represents Vistar Media in its $600 Million Acquisition by T-Mobile

Lowenstein Sandler represented Vistar Media, the leading provider of technology solutions for digital-out-of-home (DOOH) advertisements, in a definitive agreement to be acquired by T-Mobile (NASDAQ: TMUS).

According to T-Mobile's January 13, 2025 press release, through the T-Mobile Advertising Solutions business, T-Mobile will acquire all of Vistar's industry-leading capabilities. This includes its intelligent marketplace and technology solutions for buying, selling and managing media campaigns across a global network of more than 1.1 million digital screens provided by nearly 370 OOH media owners and serving more than 3,000 brand partner advertisers.

This combination will help transform the DOOH industry by leveraging Vistar's end-to-end ad-tech platform and scale, together with T-Mobile's unique customer insights and data. As a top marketer, connectivity provider and one of the largest physical in-store retail media network operators, T-Mobile will help marketers and advertisers reach consumers with more addressable and measurable solutions, delivering greater efficiency and ROI, while enhancing the consumer experience with more meaningful and engaging content.

T-Mobile will pay approximately $600 million in cash, subject to closing adjustments. The transaction is expected to close in Q1 2025, subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals.

The Lowenstein deal team was led by partners Ed Zimmerman, Meredith Beuchaw, and Alex D. Leibowitz, and also included partners: Matthew Boxer, Rebecca J. Ryan, Zarema A. Jaramillo, Abraham J. Kwon, Brian A. Silikovitz, alongside team members Adam Dickson, Samantha Fox, Sara Uz, Oluwaseyi O. Amorin, Waleey Fatai, Jessica I. Kriegsfeld, Melissa D. Libutti, Lauren Noval Russell, Hannah Pastore, Chloe Rippe, and Eric Sands. Global investment bank, Canaccord Genuity, advised Vistar Media on the transaction, with the team led by Sanjay Chadda, Andrew Cohen, Christopher Heasman, and Jack Chicalo.