First Official Press Release From The New Coolsign
Adrian J Cotterill, Editor-in-Chief
Here’s the first official press release from the new CoolSign, following our breaking story yesterday ‘CoolSign, Disposal, Planar, Last Bits Of‘ – looks like the name is staying, note the new domain name (which might simply be temporary), see www.cool-sign.com
CoolSign Digital Signage Business acquired by CS Software Holdings LLC
Industry leading digital signage software platform, CoolSign, readied for growth with investment from Private Equity Group
New York, NY (PRWEB) January 8, 2009 – CS Software Holdings LLC announced today, the purchase of the CoolSign Digital Signage business from Planar Systems, Inc. CoolSign is a leading industry-proven digital signage software solution that has been successfully deployed by leading brands worldwide.
The CoolSign acquisition includes the application of the proprietary technology in all markets except gaming.
CS Software was recently formed and was led by an investment from Pegasus Capital Advisors, the firm that also invested recently in the leading experiential branding and technology firm, Creative Realities.
Jason Friedman, CEO of Creative Realities said, “I am thrilled that I was able to introduce Pegasus to the CoolSign team, and help put together a deal that is great for the digital signage industry and that our investors shared the vision for the possibilities for this business.”
A CoolSign spokesman said, “With the proper capital resources and a new and inspired vision, we are confident that CoolSign, already an industry leader, will not only be able to better support their existing customer base, but also to continue to lead innovation and provide the highest-quality, enterprise solution for customers using out of home digital communications as a vital part of their business.”
The new company will be based in New York City, with the head software development office remaining in Oregon and sales offices in NY, Amsterdam, and France.
January 8th, 2009 at 18:03 @794
This could be a very significant development for our industry. Does anybody know anything more about this new company, CS Software, that was funded by Pegasus Capital Advisors, to acquire the Digital Signage Business of CoolSign?
The press statement mentions that Pegasus Capital Advisors helped in the formation of the “leading experiential branding and technology firm, Creative Realities. Yes, Creative Realities, Inc. (CRI), based in NYC, IS a leading player in the experiential branding and technology field. In terms of this acquistion, I’m just trying to get a handle on who the top executives are and/or will be of this CS Software company, how will it operate, and what market niches it will be chasing. And, what role might CRI play in all of this?
Also, the press statement does not make it clear (at least to me) as to whether CS Software also acquired any of the flat-panel display hardware technologies that Clarity Visual Systems (which Planar acquired a few years ago) had developed for the Digital Signage Market. If anybody has any insights here on this question, please feel to share. Thanks!
Bill Collins Principal DecisionPoint Media Insights Cincinnati, Ohio, USA Bill@decisionpointmedia.com