Finalizes the acquisition of ProntoTV in Norway
Sweden, 2016-09-28 14:40 CEST (GLOBE NEWSWIRE) —
ZetaDisplay has today completed the acquisition of ProntoTV in Norway. This acquisition is in accordance with the agreement that was signed with the vendors on 22 August 2016.
ZetaDisplay Norway and ProntoTV will merge during the fourth quarter and in future operate with the name ProntoTV “a part of ZetaDisplay” on the Norwegian market. Ola Sæverås will be the MD for the merged business.
The acquisition is a further step in ZetaDisplay’s goal to establish itself as a leading supplier of Digital Signage on the European market. Together with ZetaDisplay’s existing operations in Norway, the merged operations will have a more leading position with a very strong customer base. ProntoTV’s customer base includes, among others, Reitan Group, Sparebank1, JCDecaux, Avinor, Norway Post, Vita and Boots Pharmacy. Through the acquisition, ZetaDisplay will significantly increase its growth and continue to be an active participant in the consolidation of its industry.
The acquisition of ProntoTV is to take place by ZetaDisplay acquiring all shares in ProntoTV by means of a cash payment and a directed share issue to the seller, Pronto Holding AS, of 1 million ordinary shares of ZetaDisplay AB (publ). As previously communicated in a press release 25 August 2016, ZetaDisplay has issued 1 000 000 ordinary shares as part of the purchase price for ProntoTV AS. All 1 000 000 ordinary shares have today been subscribed for and allocated to Pronto Holding AS at a subscription price of SEK 8 per ordinary share, corresponding to issue proceeds of MSEK 8. All newly-issued shares will be registered during October 2016.
For more information please contact:
ZetaDisplay AB (publ)
CEO Leif Liljebrunn
Telephone: +46 70 845 80 52
The information contained in this press release is the type of information which ZetaDisplay is obligated to publish according to the Market Abuse Regulation. The information was caused to be published by Leif Liljebrunn on 28 September 2016 at 14:40 PM.
ZetaDisplay is a leading supplier of Digital Signage to major chains in the retailing and service sectors of the European market. The head office is in Sweden and there are sales offices located in Denmark, Norway, Finland, Estonia and the Netherlands. Since April 2011 the company’s shares have been traded on NASDAQ OMX First North Premier, using the ZETA abbreviation. The Certified Adviser is Erik Penser Bank. More information can be found at http://www.zetadisplay.com
About Digital Signage and multi-channel communication
ZetaDisplay defines Digital Signage as a system for advertising, profiling and retail store communication, which forwards audio, images and film related to retail stores and information in the public environment. A Swedish name for Digital Signage translates as digital retailing communications. Solutions based on digital displays form a large part of the market, but development is proceeding towards the utilisation of more digital channels to communicate customer offers and other information. This is a matter of solutions that are integrated into social media and web sites, and apps for smart mobile phones and tablets which create interaction with customers. Development is also progressing towards integrating solutions with retailers’ cash desks for automatic price updating and the automatic switching of offers on the digital displays.