Daktronics to Acquire European Company Focused on Transportation Market
BROOKINGS, S.D. – Aug. 15, 2014 –
Daktronics (NASDAQ-DAKT) of Brookings, South Dakota, has recently entered into an agreement to purchase Data Display, a transportation focused display company. Data Display has manufacturing and engineering capabilities in Ireland and has served customers across the European Union and United States.
Under the agreement, Daktronics will retain Data Display's workforce of experienced sales, service, engineering and manufacturing teams. Data Display is headquartered in Ireland and includes a modern, ISO 9001:2008 certified manufacturing facility with 60,000 square feet (5.575 square meters) of space in County Clare, Ireland. Further terms of the agreement are confidential.
With a focus in the mass transit industry for more than 30 years, Data Display specializes in providing electronic displays for real-time passenger information (RTPI) in bus and tram networks as well as providing customer information systems (CIS) for railway networks. The company has built a strong business in Europe and brings a complementary customer base, skilled workforce and valuable experience in the mass transit sector.
Daktronics CEO Reece Kurtenbach noted, "We believe Daktronics and Data Display complement each other well. Daktronics is active in the transportation business, mainly in the United States, and we have a global presence with offices and people in many countries, currently focused on sports, third-party advertising and video solutions. Adding the strengths of Data Display will allow our combined organizations to better serve transportation customers world-wide and broaden our leadership position on a global scale. Daktronics looks forward to further expanding its customer and market focus in Europe and surrounding areas."
Daktronics helps its customers to impact their audiences throughout the world with large-format LED video displays, message displays, scoreboards, digital billboards and control systems in sport, business and transportation applications. Founded in 1968 as a USA-based manufacturing company, Daktronics has grown into the world leader in audio-visual systems and implementation with offices around the globe. Discover more at
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 2014 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:
Sheila M. Anderson, Chief Financial Officer