Digital signage companies, Creative Realities, Inc (CRI) and Reflect Systems, Inc. announced that both companies have executed a definitive merger agreement.
The company further stated that under the terms of the agreement, CRI and Reflect Systems will operate under the Creative Realities, Inc. name and continue to be listed on NASDAQ as CREX.
“This really is an ideal combination,” says Rick Mills, CRI’s CEO, who will continue to act as CEO for the combined company.
Mills further added, “CRI has a strong history of deploying large-scale and sophisticated digital signage projects, driven by our exceptional creative and project management teams. Reflect has world-class content management software platforms like ReflectView, which has become an industry standard for scalable, flexible, reliable digital signage…Combined, we offer some of the most comprehensive digital signage and media solutions available in a powerful one-stop shop for customers.”
According to CRI, Lee Summers, CEO of Reflect Systems, will also remain with the company and lead the combined company’s AdTech initiatives, including full integration with Supply Side Platforms and Exchanges.
Commenting on the merger, Summers notes, “Not only do CRI and Reflect have complementary offerings, but we have also traditionally been strong in complementary markets. While CRI has excelled in Quick Service Restaurants, stadiums and C-store markets, Reflect has become an industry leader in retail, healthcare, banking, Digital-Out-of-Home and corporate communications. Together we can address virtually any digital signage need for any sector.”
CRI added that it intends to fully integrate the two companies, unlike other acquisition/merger strategies in the digital signage industry.
“With our track record of successful combinations, the company is well positioned for continued organic and strategic growth. By fully integrating our solutions and business operations, we can bring to the market the most competitive product and service offerings available for the digital signage market,” says Mills.
The combined company will be headquartered in Louisville, while maintaining the Reflect Systems offices in Dallas.
The key offerings available post-merger, per the press release statement, will include the following:
- Purpose-built menu board software via the CRI Clarity platform
- Digital signage Software-as-a-Service (SaaS) via ReflectView and Reflect Xperience
- Digital-Out-Of-Home advertising solution with the AdLogic platform
- Engineering design and planning
- Installation services
- Creative planning and design
- IPTV streaming platforms
- Post-deployment support
CRI also stated that the breadth of solutions and talent of the combined team positions it to accelerate growth by helping more enterprise customers design, implement and manage place-based digital experiences that drive meaningful business outcomes.
The CRI and Reflect Systems merger is expected to close in the first quarter of 2022.
