Panasonic Buys NYC-Based Digital Signage Solutions Firm MagicInk
June 29, 2015 by Dave Haynes
“After reviewing the potential acquisitions in this area, we believe that MagicInk is well positioned to help us significantly expand our digital signage business. This is just one in a series of planned initiatives,” says Jim Doyle, President of Panasonic Enterprise Solutions Company, in a press release. “MagicInk is a leader in digital place-based solutions for high-end retail, hospitality and corporate clients. It brings multiple paths for continued profitable growth.”
Respectfully, I’ve been in this industry for 16 years and I have never heard of this “leader” – a term that gets used far too liberally in the digital signage business.
“We hold shared views on excellence, customer service and the same passion for the business,” says MagicInk Founder and CEO Eddie Kreinik. “With the Panasonic brand, technology, engineering expertise, and reputation in sports and entertainment video boards, we can expand what we offer to our existing customers and move into new markets.”
Founded in 2008, MagicInk says it has completed more than 150 digital place-based installations, including the Perry Ellis boutique at Macy’s Herald Square, Avon’s corporate offices in New York City, the Kimberly Hotel’s Upstairs rooftop bar in midtown as well as projects for Tag Heuer, Steve Madden, Hugo Boss and Kenneth Cole.
No terms of the deal were disclosed.