Financial terms of the deal were not disclosed, but Velocity says the purchase will strengthen its in-house development capabilities of software as a service (SaaS) products for digital media and content management solutions.

Velocity says that the deal will allow it to provide enhanced interactive touchless solutions for digital signage and digital media across hospitality and healthcare markets.

“The digital marketing sector is experiencing a rapid shift to a SaaS model and acquiring CTI allows us to accelerate our aggressive growth plans to build-out Velocity's SaaS product offerings,” Velocity founder and chief executive Greg Kiley says.

“This acquisition better positions us to help our clients display their brand and media content across multiple customer touchpoints and create best-in-class customer experiences that transcend the physical and digital arena.”

Joe Ross, executive vice president of sales and marketing at Velocity, adds: “In the ever-changing marketing industry, Velocity prioritizes growth strategies that provide our clients with flexible and high-end customer engagement technology.”

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