This is technology M&A deal number 510 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Founded in 2007, Ping HD provides creative content and digital menu boards, video walls, live video feeds, interactive kiosks and other digital signage for sports and entertainment brands through a proprietary cloud-based content management system.
In addition to professional and collegiate sports arenas, the company works with clients in education, entertainment, cannabis, hospitality, retail, healthcare, and more.
The deal adds more than 35,000 screens to Spectrio’s digital signage footprint, according to buyer.
Spectrio Acquires Ping HD: Expanding Digital Signage Footprint
Jimmy Hunt, senior vice president of channel sales and business development at Spectrio, commented:
“For years, Ping HD has been a leader in creating and deploying exciting and engaging content for stadiums, arenas, and businesses throughout the country. We are thrilled to partner with the Ping HD team as we continue to expand Spectrio’s extensive digital signage footprint and connect our products and services with new users.”
Stephen Young, owner of Ping HD, added:
“Here at Ping HD, we’ve always been committed to delivering best-in-class digital signage technology and we’re excited to join with the Spectrio team to bring even more value to our client relationships. This partnership gives our clients access to a wide range of new services, as well as a cohort of award-winning content creators to help bring their brand to life in new and unique ways.”
Digital Signage M&A
Spectrio isn’t the only company betting on digital signage. It’s a small wonder given that some research has shown the market will continue to grow in the coming years, with Grand View Research predicting the market will generate a 6.4 percent CAGR through 2027.
Despite pressure on the market from the COVID-19 pandemic, M&A activity has remained strong. In February 2021, SageNet acquired Convergent, uniting a network- and cybersecurity-focused MSP with a digital signage service provider. In October 2020, MSP Velocity acquired Impax Media Inc., a digital signage technology company that operates an in-store advertising network for grocery stores.
In February 2020, managed IT services provider Yorktel acquired the business assets of Video Corporation of America.
Prior to the pandemic, you even saw big names like fast-food giant McDonald’s looking to digital signage with the acquisition of Dynamic Yield, a technology company that leverages big data analytics to customize drive-thru signage in real-time.