Daktronics, based in Brookings, South Dakota, has made an agreement to purchase OPEN Out-of-Home Solutions, a privately-owned, 20-year-old Belgium company that provides light boxes and scrollers, advertising signs, and billboard advertising displays to third-party advertising companies.
Philippe Ophoff, CEO of OPEN, says, “After having worked closely together for the past few years, this acquisition feels like a natural evolution of our partnership. Both Daktronics and OPEN highly value quality and reliability, and are customer oriented. This makes us a perfect match.”
Daktronics and OPEN have been cooperating to manufacture and deliver digital displays in Europe using OPEN’s proprietary cabinetry system and Daktronics’ designed and manufactured electronics for the past few years. With the addition of this combined digital product and OPEN’s product line to Daktronics existing display system offerings, Daktronics now positions itself in the European marketplace with a complete product line for TPA companies.
“For the past few years, Daktronics and OPEN have collaborated on a number of projects to achieve our customer’s vision for digital solutions,” says Pete Egart, director – Europe, Middle East, Africa and Latin America, for Daktronics. “High-quality, design and reliability are embedded in the culture of both our companies. Becoming one team will create a powerful product mix to offer the out-of-home industry. Our European and Middle East sales teams are poised to present a complete display solution to our customers.”
Under the agreement, Daktronics will acquire a modern 40,000-square-foot facility with office and manufacturing space. Have a manufacturing facility in Europe will allow Daktronics to better serve the Europe/Eurasia TPA market with competitive pricing and delivery.
Daktronics will be working with OPEN over the next few months to complete the acquisition and integrate OPEN into Daktronics. Under the agreement, Daktronics will also acquire all of OPEN’s stock. Terms of the agreement are confidential.