Nordic digital signage suppliers join forces through acquisition
Digital signage supplier ZetaDisplay is expanding in Europe with the acquisition of Norway’s ProntoTV.
The companies entered into a agreement on August 22 with ZetaDisplay agreeing to pay NOK 75 million (approximately €8 million) on a “debt-free basis” plus an earnings-based supplemental purchase price with a maximum of NOK 25 million to be paid out at the beginning of 2018.
ZetaDisplay aim to be the leading supplier of digital signage in Europe with the ProntoTV acquisition strengthening its position in Norway. ProntoTV’s has 15 years of experience; 20 employees and a customer base that includes Reitan Group, Sparebank1, JCDecaux, Avinor, Norway Post, Vita and Boots Pharmacy.
ZetaDisplay supplies major chains in the retail trade and service industry. The company has more than 50 employees and sales offices in Sweden, Denmark, Norway, Finland, Estonia, and the Netherlands. Its customers include Mercedes-Benz, Volkswagen, PostNord, EuroCash, Stockmann, HEMA, Hesburger, Kesko, Alko, Vianor, and MIO.
Leif Liljebrunn, CEO of ZetaDisplay, said: “The acquisition of ProntoTV is in line with ZetaDisplay’s plan for growth which calls for strong growth with profitability. With ProntoTV’s strong position in digital communications in public spaces and the transportation sector, we are also broadening our range of products with new verticals which we will offer to customers on several markets in Europe.”
Ola Sæverås, a partner at ProntoTV, added: “It is in the best interests of both ProntoTV and our customers to consolidate two strong companies with a unique range of products in order to develop into an even stronger full-service supplier with an international presence."