Kortrijk, Belgium-based Barco today announced the acquisition of Montreal-based enterprise communication specialist X2O Media.
X2O Media will be integrated in the Barco organization as a business venture, allowing it to continue the development of its platform technology, while leveraging its business growth from Barco's worldwide sales and service presence. In addition, the X2O specific capabilities and technology will be integrated gradually in solutions for all of Barco's markets.
X2O Media posted sales of $5 million (Canadian) in 2013, employs about 40 people and was backed by Propulsion Ventures. The price of this acquisition is set at $1 million (Canadian).
In line with Barco's strategy to move beyond display and projection technology, this acquisition expands the portfolio with a complete solution to deliver enhanced and cross-divisional content distribution and workflow, based on advanced networking and connectivity capabilities, the announcement said.
X2O Media was established in 2006 as a spin-off from VertigoXmedia, a Montreal-based company specializing in the field of broadcast graphics automation. X2O's digital signage and visual communication platform enables the connection, management and delivery of real-time data through dynamic and interactive channels, "from any source to any screen, anywhere," the company said.
"X2O Media perfectly complements our offering and skills portfolio, and is an important step in our strategy to expand our portfolio beyond video and imaging," Barco CEO Eric Van Zele said in the announcement. "Customers' expectations regarding workflow and content management shift to end-to-end and easy-to-use visualization systems and cloud-based solutions. X2O Media's platform will play a crucial role in allowing Barco to tap into these new opportunities, while differentiating itself further from competition. The X2O software platform versatility, and its capability to address any display — be it fixed or mobile — will prove to be an important asset and allows Barco to link any content from any media to any device."
X2O's software is being used in demanding applications across a wide range of industries and shows a strong match with Barco's target markets, including enterprise communications, corporate and education, retail and advertising, control rooms, broadcast and health care, Barco said. And the X2O software platform uses hardware-agnostic standards, building on HTML-5 technology and can address any display and all mobile devices, according to X2O. The platform includes plug-ins, "objects" for almost any type of data-source, from local database systems to collaboration sites (SharePoint, Exchange, ...) up to dynamic data feeds from social media or news sites (Facebook, Twitter, YouTube, etc.). The solution can be deployed on premises or in the cloud.
"We are pleased to be welcomed at a major company like Barco, which will hugely expand our market reach," X2O Media President and CEO David Wilkins said in the announcement. "Barco is a technology company with a focus on visualization infrastructure and image quality. Adding X2O Media's application software and workflow focused capabilities, will allow both companies to go to the market with a more comprehensive offering. At the moment, our market is limited to North America, but benefiting from Barco's global network we will be able to grow our activities worldwide."