The Swedish firm ZetaDisplay continues to roll up other companies in the Scandinavian market, doing a deal to acquire Seasam Oy, the second largest supplier of digital signage in Finland. The company, based in Malmo, had done deals earlier for other providers in Finland and Norway.
Seasam has about 20 people and a customer base that includes K-citymarket, Kotipizza, Burger King, Picnic, Neste, O’Learys, and Helmi Savings Bank.
“The acquisition of Seasam is in line with ZetaDisplay’s strategy of participating in the consolidation underway in the industry, while maintaining solid profitability. Based on our Nordic platform, we will continue this expansion, benefiting from economies of scale and leading to gradually higher sales and increased profitability. Seasam is expected to report strong growth and contribute to higher profitability in 2017 as compared to 2016,” says Leif Liljebrunn, CEO of ZetaDisplay.
In 2016, Seasam reported sales of approximately MSEK 33.8 (about $4 million USD). The acquisition is based on ZetaDisplay acquiring all of the shares in Seasam Oy, in exchange for a fixed purchase price totalling MSEK 43.9 (about $5M USD). Full details of all the financials and machinations to make the buy are here …
Dave Haynes is the founder and editor of Sixteen:Nine, an online publication that has followed the digital signage industry for more than 13 years. Dave does strategic advisory consulting work for many end-users and vendors, and also writes for many of them. He’s based near Halifax, Nova Scotia.