We were privileged to have a multi-person conference call today with the senior executives of both firms where we were given the exclusive to a lot of background and answers to a lot of questions. While we’ve agreed to hold off a more inclusive article for a day or two – “until we get all our ducks in a row” as they put it – here are the basic details:
- Titan takes over the exclusive advertising sales and marketing for TargetCast. The move will help advertisers reach active on-the-go consumers through 360 degree campaigns through their day from 6 a.m. to midnight, whether it be in transit, coffee shops or casual dining settings in top DMAs across the U.S..
- Management of TargetCast’s assets, including intellectual property, products and real estate venue agreements, is being taken over by Brian Moore, senior vice-president operations and CFO, Allan Nishioka, chief technology officer, and Bob LaRochelle, executive vice-president engineering. A revamping of the ownership structure to the senior executives and TargetCast’s investors, Claremont Creek Ventures and Draper Fisher Jurvetson is underway.
- As part of the agreement, TargetCast’s Jerry Hall and Sal Tofano in New York, and Wayne Aaronson and Melody Jackson in Los Angeles have become full-time ‘Titans’.
- The move is part of a plan by Titan back in 2008 to build its digital platform beyond its strong transit deals, an aim that was stifled by the recession but is now back on track after a restructuring in July.
- TargetCast will launch its next generation players in about 60 days, and will be able to license its offerings worldwide.
- Under the agreement, TargetCast’s advertising sales gets the benefit of Titan’s sales force of 125 in Titan’s 11 offices in the U.S. and one in Canada.
TargetCast is a digital media technology company providing venue operators with its TargetCasters (IP- patented devices) giving the ability to create and post custom-designed promotional messages directly on digital screens in some of America’s best known restaurants.
The company is consistently ranked in Nielsen’s Fourth Screen Report as a Top-Tier Audience Network. It has been the Number Three Network in the past two quarters in delivering overall impressions according to Nielsen.