Israeli start-up Minicom Digital Signage Solutions Ltd. is merging with US digital signage company EnQii Holdings Inc. in order to become a global leader in multichannel message management. A few million dollars was invested in the merged company by Jerusalem Venture Partners (JVP), together with other current investors, Wellington Partners, Amadeus Capital Partners and Aviv Venture Capital.
The company will use the funding to expand its current solutions and for possible additional acquisitions.
Minicom Digital Signage was founded a year ago as a spin-off of Minicom Advanced Solutions Ltd. to provide multimedia distribution solutions for the digital signage market. The company's products enable the transmission of digital content from the business center of a company, such as a retailer, school, public transport company, or hospital, to a screen-filled environment.
Minicom Digital Signage's products are used at more than 400,000 plasma and LCD screens worldwide. The company has raised $6 million since it was founded from JVP and Aviv Venture Capital. EnQuii has raised $20 million from Amadeus and Wellington.
Headquartered in New York City, EnQii-MDS will be headquartered in New York City and operate from six offices worldwide and via a global network of dedicated partners that includes 150 worldwide distributors serving thousands of resellers and system integrators.
Minicom Digital Signage Ronni Guggenheim has been appointed president of EnQii-MDS. He said, “This strategic move creates a powerful vertical solution in an industry that has been plagued by complexity. This gives us a deeper base to continue to provide compelling innovations in this rapidly growing industry to our current and future partners across the globe."
JVP general partner and Minicom chairman Gadi Tirosh said, "In the past year, Minicom has consolidated its position as an independent company, and in view of the consolidation in the digital signage industry, it decided to merge with EnQuii to become the dominant company in its field." He added that the merged company would not need capital for operations.
EnQii-MDS CEO Ajay Chowdhury said, "I am particularly excited with our new solutions such as IP Streaming, mobile and web linkages and the ability to provide proof of performance for signage networks.”
Published by Globes [online], Israel business news - www.globes-online.com - on May 17, 2011
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