YCD Multimedia Acquires Cnario
The Combined Company Completes $6 Million Fundraising Round to Accelerate Growth
New York and Tel Aviv – October 27, 2011. YCD Multimedia, a global leader in providing smart digital media experiences to the retail business world, today announced the acquisition of Cnario, an industry leader in high-end digital signage solutions, in a stock transaction.
The combination of YCD and Cnario brings together two leading digital signage companies to deliver a robust end-to-end solution that encompasses everything from content management to measurement and analytics. This solution is designed to deliver a complete brand experience in the retail industry as well as in other market segments. As a result of the recent integration, the company will expand its reach to serve more than 2,000 brands, including leading Fortune 500 global brands, in over 40 countries worldwide.
YCD will continue to provide the highest level of support to both YCD and Cnario customers. Noam Levavi, co-founder and CEO of YCD will continue to lead the combined entity from its NYC headquarters.
"This step opens new horizons and creates tremendous opportunities for the consolidated company," said Noam Levavi, CEO of YCD. "By combining YCD’s offering and expertise together with Cnario’s high-end digital signage technology we take another major step toward achieving our vision of delivering personalization and measurement to brick-and-mortar environments.”
Tamir Ginat, Cnario’s CEO, said, “This is an important step in Cnario’s growth and business strategy. Bringing together powerful market-leading technologies will enable us to offer our customers solutions that provide unrivaled capabilities and address current and future needs.”
The company also completed a new $6 million fundraising round led by Carmel Ventures, Opus Capital, Pitango Venture Capital and Plenus, together with other existing shareholders.
"We are delighted to have assisted this transaction and to be able to invest in the combined entity," said Avi Zeevi, Cnario’s Chairman and General Partner and Co-Founder of Carmel Ventures. "We can now combine the power of our individual strengths and core competencies to establish a leadership position in the digital signage industry. I would like to thank Tamir Ginat for leading Cnario to its current dominant position, and who was instrumental in making this transaction happen”.
"We plan to increase market share and broaden our coverage," said Rami Kalish, YCD's Chairman and Managing General Partner and Co-Founder of Pitango Venture Capital. "We see a tremendous number of business opportunities that we and our partners can effectively and efficiently target, and we plan to pursue those opportunities."
About YCD Multimedia
YCD Multimedia provides marketers with a set of tools to manage, distribute and target digital media within the retail environment. YCD’s flexible platform helps retailers ensure a measurable impact on their business. YCD’s end-to-end offering combines strategy, professional services and technology to increase profits, optimize product mix and enhance the customer experience. To date, the company has partnered with over 1,500 customers, in the retail, and hospitality industries, including some of the world’s most recognized brands such as Coca Cola, Toyota, Estee Lauder, Ferrari, Hilton Hotels, Cartier, and Hugo Boss. Founded in 1999, YCD Multimedia is headquartered in the United States with offices in the United Kingdom and Israel and has an international network of resellers serving clients around the globe. YCD is backed by Pitango Venture Capital, Plenus, Arts Alliance Digital Ventures and private investors. For more information, visit www.ycdmultimedia.com
Cnario is a global industry leader providing corporations and organizations worldwide with advanced digital signage software solutions and applications. Cnario helps its clients attract customers, increase revenues and enhance branding. Focused on the customer's business needs and requirements, Cnario provides the industry’s most advanced digital signage capabilities with maximum Return-on-Investment (ROI). The company’s solutions are the product-of-choice for hundreds of customers, including Fortune 500 corporations, in a variety of industries: retail, banking, transportation, advertising and media, entertainment, sporting events and facilities, education and telecom, among others. Through its global partners and international value-added resellers, Cnario has deployed its solutions in 40 countries. The company has offices in the United States, Europe, and Israel. Cnario is backed by Carmel Ventures, Opus Capital and private investors. For more information about Cnario visit www.c-nario.com
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