M&A in our industry continues apace as news reached out first thing Monday that Panasonic has acquired MagicInk Interactive LLC, a New York City-based, privately-held provider of hardware, software and integration services for digital indoor networks for high-end retail, hospitality and corporate clients.
Jim Doyle, President of Panasonic Enterprise Solutions Company said “MagicInk is a leader in digital place-based solutions for high-end retail, hospitality and corporate clients. It brings multiple paths for continued profitable growth. After reviewing the potential acquisitions in this area, we believe that MagicInk is well positioned to help us significantly expand our digital signage business. This is just one in a series of planned initiatives”.
MagicInk’s digital place-based media offer branded content on screens where people congregate and linger, such as hotel lobbies, conference centers and retail shopping areas. With the acquisition, Panasonic says that it benefits from MagicInk’s expertise while leveraging its own outdoor display integration and project management capabilities to expand into other regions and markets. Panasonic also purchased MagicInk’s AdSpaceInk brand, which provides large- and grand-format printing capabilities.
MagicInk Founder and CEO Eddie Kreinik was quoted as saying “Our relationship with Panasonic Enterprise Solutions is rooted in mutual respect, shared values and optimism about the promise of the digital signage market. We hold shared views on excellence, customer service and the same passion for the business. With the Panasonic brand, technology, engineering expertise, and reputation in sports and entertainment video boards, we can expand what we offer to our existing customers and move into new markets.”
Since its founding in 2008, MagicInk has completed more than 150 digital place-based installations, including the Perry Ellis boutique at Macy’s Herald Square, Avon’s corporate offices in New York City, the Kimberly Hotel’s Upstairs rooftop bar in midtown as well as projects for Tag Heuer, Steve Madden, Hugo Boss and Kenneth Cole.
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