Done: Sweden’s ZetaDisplay Closes Deal To Acquire Finland’s MarketMedia
March 27, 2015 by Dave Haynes
Swedish solutions provider ZetaDisplay has completed the acquisition of a quasi competitor – Finland’s Marketmedia Oy – in a cash deal worth about 2 million Euro.
ZetaDisplay Finland and Marketmedia will merge during Q2 and run as ZetaDisplay.Marketmedia’s client base includes, among others, Veikkaus (Finska Spel), Tikkurilla, Starkki, Stockman and Onninen.
NASDAQ/OMX-listed ZetaDisplay describes this as part of a drive to become established among the leading digital signage firms in Europe. ZetaDisplay is financing the acquisition through debt financing via, among others, banks and other lending institutions.
As noted last month when the deal was announced, the Finnish company had a turnover of about $4 million USD but sold for less than one year sales.
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