Barco (NYSE Euronext Brussels: BAR) and STRATACACHE have reached an agreement for the sale of Montreal based X2O Media to STRATACACHE. Financial terms were not disclosed.
The transaction is expected to close in the coming weeks.
X2O Media employs about 45 people and will continue to operate from Montréal.
X2O Media was launched in 2006 when it was spun off from VertigoXmedia, a leader in the field of broadcast graphics automation.
In March 2014, Barco acquired X2O Media for €[mepr-active rule=”374″ ifallowed=”hide”]#SUBSCRIBERS ONLY CONTENT – where and how did you get your news? Subscribe today to see our research on this and all other subscriber ONLY news. Be informed!#[/mepr-active][mepr-active rule=”374″]13.277 million or CDN $21 million. X2O Media was backed by Propulsion Ventures. [/mepr-active]
photo credit: X2O Media
News Release
Barco and STRATACACHE reach agreement on sale of X2O Media
Kortrijk, Belgium, 28 March 2018 06:00 pm – Barco announces the sale of Montréal-based X2O Media to STRATACACHE. As the global market leader in digital consumer engagement and digital signage, STRATACACHE will offer an enhanced focus and new growth opportunities for X2O.
After its acquisition in 2014, X2O became part of Barco’s Enterprise division, which focuses on solutions for meeting and control rooms. Over the years, X2O secured top tier customers including John Deere, Verizon, FoxNews and Accenture. All customer agreements will continue to be managed by X2O to ensure continued support and service for current customers.
“The decision to divest X2O Media comes after a careful evaluation of its profitability and growth opportunities,” says Jan De Witte, Barco’s CEO. “As digital signage is no longer a strategic focus for Barco, we are convinced that selling X2O to a major player like STRATACACHE will provide the company with the focus and contacts it needs to reach the next level of scale and success.”
“With the acquisition of X2O Media, we will expand our portfolio with a complete solution for dynamic content display based on real-time data, plus great new tools in the E-Learning and Broadcast Markets,” says Chris Riegel, CEO of STRATACACHE. “The X2O software platform versatility, and its capability to address any display – be it fixed or mobile – will prove to be an important asset. This complementary technology will help us to further build on our core competences in the ever expanding digital display and data visualization marketplace.”
X2O Media employs about 45 people and will continue to operate from Montréal, Canada. Today, the company reports annual sales of 5 million euro with EBITDA close to break-even. Final closing of the transaction is subject to customary closing conditions and is expected in the coming weeks.
About STRATACACHE
STRATACACHE provides scalable customer experiences, empowering retailers to learn deeply about their customers’ shopping preferences and behaviors, allowing for personalized shopper interaction. Our solutions deliver consumer activation at the point-of-decision, generating new sales opportunities and enhanced retail profitability. With 2 million+ software activations globally, we power the biggest digital networks for the world’s largest brands. Across the STRATACACHE family of complementary digital media/ad tech solution companies, we have the technology, expertise and track record to bring retail innovation that delivers results. Learn more about the STRATACACHE family at www.stratacache.com, on Twitter @STRATACACHE or on Facebook.
About Barco
Barco designs technology to enable bright outcomes around the world. Seeing beyond the image, we develop visualization and collaboration solutions to help you work together, share insights, and wow audiences. Our focus is on three core markets: Enterprise (from meeting and control rooms to corporate spaces), Healthcare (from the radiology department to the operating room), and Entertainment (from movie theaters to live events and attractions). In 2017, we realized sales of 1.085 billion euro. We have a team of 3,600 employees, located in 90 countries, whose passion for technology is captured in 400 granted patents.
For more information, visit us on www.barco.com, follow us on Twitter (@Barco), LinkedIn (Barco), YouTube (BarcoTV), or like us on Facebook (Barco).
© Copyright 2018 by Barco
For more information, please contact
Carl Vanden Bussche
Vice President Investor Relations
Barco nv
Telephone +32 56 26 23 22
carl.vandenbussche@barco.com