Signature Outdoor has been acquired by Ocean Outdoor, with the latter looking to build on its UK out-of-home presence beyond London.

The acquisition of Signature's media portfolio will strengthen Ocean's presence in the West Midlands, while also providing it with opportunities to expand on its flagship network The Grid. Signature co-founders Gerry Bew and Steve George will become part of Ocean's executive team under the terms of the deal, while the two companies will continue to operate as two distinct identities.

"This is a very exciting development for both companies," comments Tim Bleakley, chief executive of Ocean. "[The deal] will enable us to provide even more innovative communication and technological solutions for our brand and agency partners."

"Both Steve and I really admire and respect what the Ocean team has achieved in a relatively short time span," adds Bew. "We are very proud to be joining forces and supporting the next exciting and ambitious phase."