CRI Paid $16M Cash Plus 2.3M Shares For Reflect Acquisition

March 23, 2022 by Dave Haynes

There have been numerous acquisitions and mergers in the past few years involving companies active in digital signage, and in almost every case, I have ended up writing something like “terms of the deal were not disclosed.”

But publicly traded companies are required to lay out deal terms in filings, at least in the U.S., which is why I can report that Creative Realities, aka CRI, bought Reflect for just over $16 million in cash, as well as issuing shares, notes and something akin to performance bonuses.

The deal between the solutions provider and the Dallas-based CMS software firm was cut last year and was closed about five weeks ago.

Specifically, filings spell out:

I go cross-eyed reading and trying to decode company financials, and can only interpret that 2021 was way better for CRI than 2020, when the pandemic hit and CRI’s primary vertical market – retail – was closed down or constrained.

The CRI PR on its financials says:

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