Boxlight completes $3.3m cash acquisition
Digital signage solutions firm Boxlight Corporation has acquired Audio Visual (AV) firm Interactive Concepts for approximately $3.3m (£2.4m).
Wednesday, 07 Apr 2021 12:33 GMT
The acquisition is a strategic move to grow Boxlight’s Clevertouch brand. Image: Scott Graham
The acquisition follows four years of growth for Boxlight’s Clevertouch interactive screen brand which according to the firm, has risen to number two in the region.
Described as “strategic in nature”, the acquisition will allow Boxlight to expand the footprint of its Clevertouch brand with Interactive Concepts having generated around $6.5m (£4.7m) in 2020.
Michael Pope, chairman and chief executive officer at Boxlight explains how the acquisition will provide Boxlight with “greater control over messaging and adoption of its Clevertouch solutions, stronger relationships with our reseller partners and end users, and significantly improve profit margins.”
This acquisition [...] will enable us as a team to drive accelerated sales growth into education, where we already have a strong presence, and build on our enterprise plans”
According to Starkey, there will be an addition to the team with Karel Callens joining Boxlight under the Clevertouch and Sahara Presentation Systems Europe brand. Callens will work to drive sales in Belgium and Luxembourg where Boxlight has seen a 25% year-on-year revenue growth.
Callens says: “This acquisition is a natural fit into Boxlight’s Sahara Presentation Systems Europe brand and will enable us as a team to drive accelerated sales growth into education, where we already have a strong presence, and build on our enterprise plans.”
The current Interactive Concepts partners and end-user customers will benefit from direct contact with the Clevertouch team and are expected to help to influence future products.
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