Daktronics Announces Acquisition of ADFLOW Networks Inc.
About ADFLOW Networks, Inc.
Brookings, S.D. – March 15, 2016 – Daktronics Inc. (NASDAQ-DAKT) recently acquired ADFLOW Networks, Inc. (“ADFLOW”). ADFLOW specializes in delivering digital media solutions to leading retailers, convenience stores and other businesses throughout North America.
ADFLOW will operate as a subsidiary of Daktronics from its Burlington, Ontario headquarters. ADFLOW’s workforce of experienced sales, service, and software engineering teams will continue to focus on delivering state-of-the-art digital media solutions to new and existing customers. Further terms of the agreement are confidential.
Daktronics Chief Executive Officer and Chairman of the Board Reece Kurtenbach noted, “We welcome the ADFLOW team and are excited to be joining forces. ADFLOW brings us an impressive list of existing customers and their interior and interactive offerings complement our current Commercial business unit on-premise solutions. Over the coming years, we plan to integrate our sales and market channel efforts and extend ADFLOW’s digital media platform capabilities to all Daktronics customer segments. We also look forward to developing and delivering new combined offerings to the market through this partnership.”
Headquartered in Burlington, Ontario, ADFLOW Networks is an industry leader in delivering award-winning digital signage, interactive and marketing solutions to some of the most recognized retailers and brands in North America, all powered by ADFLOW’s Dynamic Messaging System™, using patented AdSecure™ technology. Since 2000, ADFLOW has offered its turn-key solution featuring its software platform together with comprehensive services that help companies reshape their customer experiences. From store design to screen placement, hardware selection, installation, and content services, ADFLOW has become a trusted partner to many Fortune 500 companies. As a result, ADFLOW has grown to be one of North America’s leading Digital Signage and Interactive Kiosk solution providers.
About Daktronics
Daktronics has strong leadership positions in, and is the world's largest supplier of, large screen video displays, electronic scoreboards, LED text and graphics displays, and related control systems. The company excels in the control of display systems, including those that require integration of multiple complex displays showing real-time information, graphics, animation, and video. Daktronics designs, manufactures, markets and services display systems for customers around the world in four domestic business units: Live Events, Commercial, High School Park and Recreation and Transportation, and one International business unit. For more information, visit the company's website at: www.daktronics.com, email the company at investor@daktronics.com, call (605) 692-0200 or toll-free (800) 843-5843 in the United States, or write to the company at 201 Daktronics Dr., P.O. Box 5128, Brookings, S.D. 57006-5128.
Safe Harbor Statement
Cautionary Notice: In addition to statements of historical fact, this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and is intended to enjoy the protection of that Act. These forward-looking statements reflect the Company's expectations or beliefs concerning future events. The Company cautions that these and similar statements involve risk and uncertainties which could cause actual results to differ materially from our expectations, including, but not limited to, changes in economic and market conditions, management of growth, timing and magnitude of future contracts, fluctuations in margins, the introduction of new products and technology, the impact of adverse weather conditions, and other risks noted in the company's SEC filings, including its Annual Report on Form 10-K for its 2015 fiscal year. Forward-looking statements are made in the context of information available as of the date stated. The Company undertakes no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
For more information contact:
INVESTOR RELATIONS:
Sheila Anderson, Chief Financial Officer
(605) 692-0200
Investor@daktronics.com