Daktronics Agrees to Purchase Belgium Display Manufacturer
BROOKINGS, S.D., Jan. 11, 2013 (GLOBE NEWSWIRE) -- Daktronics, Inc.
(Nasdaq:DAKT) has entered into an agreement to purchase OPEN Out-of-Home
Solutions (OPEN), a Belgium company. OPEN is a European industry leader in
providing light boxes and scrollers, advertising signs and billboard
advertising displays to third party advertising (TPA) companies. OPEN has been
in business over 20 years, and it is privately owned.
Daktronics and OPEN have been cooperating to manufacture and deliver digital
displays in Europe using OPEN's proprietary cabinetry system and Daktronics'
designed and manufactured electronics for the past few years. With the
addition of this combined digital product and OPEN's product line to
Daktronics' existing display systems offerings, Daktronics positions itself in
the European marketplace with a complete product line for TPA companies.
Under the agreement, Daktronics will acquire a modern 40,000 square foot
facility with office and manufacturing space. Having a manufacturing facility
in Europe will allow Daktronics to better serve the Europe/ Eurasia TPA market
with competitive pricing and delivery.
Daktronics will be working with OPEN over the next few months to complete the
acquisition and integrate OPEN into Daktronics. The closing is expected to
occur in May 2013, at which point OPEN will operate as part of Daktronics.
Under the agreement, Daktronics will acquire all of the stock of OPEN. Terms
of the agreement are confidential.
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, Schools and Theatres and Transportation, and one
International business unit. For more information, visit the company's World
Wide Web site at: http://www.daktronics.com, e-mail the company at
firstname.lastname@example.org, call (605) 692-0200 or toll-free (800) 843-5843 in
the United States or write to the company at 201 Daktronics Dr., PO Box 5128,
Brookings, S.D. 57006-5128.
The Daktronics logo is available 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 2012 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.
CONTACT: INVESTOR RELATIONS:
Sheila M. Anderson, Chief Financial Officer
Tel (605) 692-0200
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