News

RMG Networks completes Symon acquisition

April 22, 2013

With its acquisition of Symon Communications, a global provider of intelligent visual communications, RMG Networks now claims more than 7,500 customers, including nearly 70 percent of the Fortune 100 and a majority of the Fortune 500, and more than 1 million installed screens, the company said in a news release.

The transaction will help RMG expand its digital signage media offering to include complete end-to-end solutions providing hardware, software, professional services and monetization management for both advertising and non-advertising digital signage customers, the company said.

The acquisition follows the recently completed business combination of Reach Media Group Holdings Inc. and SCG Financial Acquisition Corp. and "creates a digital signage solutions powerhouse with what we believe are financial strengths and technological capabilities unlike any other in the industry," Gregory Sachs, executive chairman of RMG Networks, said in the release. "This is a fast-moving time for the digital signage industry, and this combination positions us to lead when demand is growing. This is an important step for us as we continue to seek opportunities to expand our business through organic growth, acquisition and technological innovation."

According to PQ Media, the digital signage market is expected to experience strong near-term growth, with media revenue for the U.S. digital-out-of-home market projected to increase at a compound rate of 12.5 percent through 2016. And according to a published report from Intel's Embedded and Communications Group, the number of digital signage media players installed worldwide is expected to increase from 3 million today to about 10 million by 2015.

"Businesses are rapidly adopting intelligent digital signage as a smart, memorable way to reach and engage customers, motivate their employees and visualize massive amounts of data to support decision-making," RMG Networks CEO Garry McGuire said in the release. "We believe that the integration of Symon makes RMG the only company in the industry to serve both advertising and non-advertising customers with the full spectrum of digital signage hardware, software and services needed to build networks that reach and activate people wherever they are."

According to the release, RMG Networks will relocate its global headquarters to Dallas, and the legacy Symon business will operate as a business unit of RMG Networks under the name RMG Enterprise Solutions. Key members of the Symon management team will remain with RMG Networks, the company said, including Chief Financial Officer William Cole, who is expected to be named CFO of RMG Networks, and former Symon CEO Charles Ansley, who is expected to be named President of RMG Enterprise Solutions.

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