Smart digital media developer YCD Multimedia Ltd. has acquired digital signage solutions developer C-nario Ltd. for shares. The merged company has already raised $6 million from Carmel Ventures, Opus Capital, Pitango Venture Capital Plenus Venture Lending Fund and private investors, including Mellanox founder and chairman Eyal Waldman, and Oded Mozes. The company will use the proceeds to accelerate its growth.
"Over the past year, we sought to acquire a company to accelerate our growth," YCD CEO Noam Levavi said. "We examined several companies, and C-nario was the best fit."
YCD provides marketing managers with software tools for managing and distributing retail media content. Its customers include Estee Lauder, Coca-Cola, Diesel, Toyota, Ferrari, Hilton, Hugo Boss, and Cartier.
Levavi will lead the merged company from YCD's New York City headquarters. He said, “This step opens new horizons and creates tremendous opportunities for the consolidated company. By combining YCD’s offering and expertise together with C-nario’s high-end digital signage technology we take another major step toward achieving our vision of delivering personalization and measurement to brick-and-mortar environments."
C-nario, founded in 2002, is the first acquisition by YCD, which was founded 12 years ago. "Paralleling the consolidation in the market, we're trying to expand in Europe and the US," Levavi told "Globes". "Since organic growth is slower, the acquisition will enable us to increase the number of our clients and offer new products. The companies have tie-ins at the technological, market, and product levels. C-nario has state-of-the-art technology with interesting installations, and a network of partnerships and distributors in 30 countries."
"Globes": Did you acquire a company that had reached the end of the road?
Levavi: "On the contrary, the last quarter was C-nario's best quarter since it was founded. Its growth rate picked up in the preceding quarters, so our timing is good. C-nario is the process of installing global networks for Chanel and other clients."
The merged company will serve more than 2,000 brands, including leading Fortune 500 global brands, in over 40 countries.
Published by Globes [online], Israel business news - www.globes-online.com - on October 27, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011