Vusion completes the acquisition of In-Store Media to turn the store into an advertising medium
The specialist in electronic shelf labels has added to its connected store platform an activity selling advertising space in points of sale. Its goal is to turn the physical store into a measurable advertising medium, for retailers as well as for brands.
Conditions precedent lifted, the acquisition of ISM is completed
Vusion announced on October 29, 2026 that it had completed the acquisition of In-Store Media (ISM). The transaction, whose agreement had been made public on July 27, 2026, is now completed: all conditions precedent have been lifted, including obtaining the required regulatory approvals.
ISM is a Spanish company founded in 1998 and based in Barcelona. It designs, deploys and sells advertising campaigns in points of sale on behalf of retailers and brands.
According to the press release, it works with 90 retailers and more than 1,600 brands. Its solutions are aimed at hypermarkets, supermarkets, shopping centres, department stores and specialised stores.
Its presence covers nine countries: Spain, France, Portugal, Italy, Poland, Mexico, Argentina, Chile and the Philippines. For Vusion, which serves more than 350 major retail groups worldwide, the transaction brings an existing commercial base among advertisers.
The group's reasoning rests on one figure: physical stores capture less than 3% of retail media investment, even though they are heavily frequented and located closest to the moment of purchase. Vusion believes this channel requires combining advertising expertise with digital tools.
These tools must make it possible to understand audiences, activate suitable content and demonstrate the effectiveness of campaigns. The acquisition brings together two building blocks: Vusion's connected store platform on one side, and ISM's practice of selling advertising space on the other.
A bridge loan of €200 million and a promise to measure sales
The acquisition is financed by a bridge loan with total commitments of €200 million. This facility has an initial maturity of 12 months, extendable through two options of six months each.
This amount corresponds to the committed financing envelope. A bridge loan is by nature a transitional financing: its initial term and its extension options set the timeframe within which the group has access to this resource.
Operationally, the joint project aims to help retailers and brands better understand in-store audiences, deliver appropriate content and quickly adjust campaigns. Brands should thus be able to measure the direct effect of in-store advertising on their sales.
The economic mechanism described by the group is twofold. Advertisers would have performance measurement that encourages them to invest with greater confidence, while retailers would find new sources of advertising revenue.
Thierry Gadou, Chairman and Chief Executive Officer of Vusion, summarises this direction: “physical stores will be the next major digital medium”. He refers to combining the group's platform with ISM's expertise in order to “create lasting value for retailers, brands and consumers”.
ISM presented to investors on November 18 in Paris
ISM will take part in Vusion's Capital Markets Day, held in Paris on November 18, 2026. The group will detail the place of digital in-store advertising in its medium-term strategic plan, as well as the growth prospects associated with the acquisition.
Fernando de Vicente, Chief Executive Officer of In-Store Media, states that the combination should allow it to “accelerate our digitalisation” and expand the company's scope of action alongside its new shareholder.
The completion follows the publication, on October 20, 2026, of third-quarter revenue up 25% on an adjusted basis, together with record order intake. On the stock market, the share price was up 2.5% in mid-morning on October 29, returning towards €135 after a 2% decline the previous day.
