Vertigo appears to get 11th hour rescue
October 19, 2009 by Dave Haynes
DailyDOOH had a post very late last week and then I saw another item today on Digital Signage Today confirming the very good news that Toronto’s Vertigo Group has been somewhat rescued. The highly-respected and much liked guys at Vertigo, who specialize in well-engineered enclosures for digital screens for OOH home companies, ran into financial trouble last month when financing plans went off the rails.
According to reports, another guy with a lot of respect and friends in the industry has stepped in to become CEO of a “newco” called Digital Displays LLC. Brad Gleeson, who in past lives has been high up with ActiveLight, CoolSign and Planar, has put together a tentative deal to acquire Vertigo’s assets and spark it back to life, with the principals still involved.
The deal is expected to close this week. This good on a whole bunch of fronts. The guys involved put out a great product and their sales pipeline looked really good from what I saw in the investment summary that had been circulating. The industry needs companies that work on things other than just price, and the new money in to revive activities suggests some others got that, as well.