RMG Meeting Banks to Mull IPO Seeking More Than $250 Million

RMG Networks Inc. is in talks with banks about an initial public offering that would help it capitalize on surging demand for video advertisements aimed at consumers on the go, Chief Executive Officer Garry McGuire said.

The San Francisco-based ad service may try to raise more than $250 million and is meeting potential financial advisers this week to consider an IPO filing this year, McGuire said in an interview. Proceeds may fund acquisitions, he said.