YCD Multimedia has announced the acquisition of C-nario in a move that signals the start of the anticipated consolidation in the digital signage sector. The companies’ official statement gave the rationale for the move as the desire “to deliver a robust end-to-end solution that encompasses everything from content management to measurement and analytics”.
The combined 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 C-nario 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 C-nario’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, C-nario’s CEO, said, “This is an important step in C-nario’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, C-nario’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 C-nario 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.”