Industry Merger Creates Powerful New Digital Signage Leader
LOUISVILLE, Ky. and DALLAS, Nov. 12, 2021 /PRNewswire/ -- Today Creative Realities, Inc. ("CRI", NASDAQ: CREX, CREXW) and Reflect Systems, Inc. (Reflect) announced that the companies have executed a definitive merger agreement. Under the terms of the agreement, the combined company will operate under the Creative Realities, Inc. name and continue to be listed on NASDAQ as CREX.
"This really is an ideal combination," said Rick Mills, CRI's CEO, who will continue to act as CEO for the combined company. "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. Reflect's AdTech platform, AdLogic, is a game-changing solution for Digital-Out-Of-Home advertisers, and is currently used by publishers to deliver approximately 1 billion ads per month. Combined, we offer some of the most comprehensive digital signage and media solutions available in a powerful one-stop shop for customers."
Lee Summers, CEO of Reflect, 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, Mr. Summers noted, "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."
Unlike other acquisition/merger strategies in digital signage, CRI intends to fully integrate the two companies. "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," added Mr. Mills. The combined company will be headquartered in Louisville, while maintaining the Reflect offices in Dallas.
Post-merger, the company will have one of the broadest offerings in digital signage, including:
Reflect was advised in the transaction by Innovation Advisors, a technology-focused investment bank.
About Creative Realities, Inc.
Cautionary Note on Forward-Looking Statements
Given these uncertainties related to the foregoing statements, and the fact that forward-looking statements represent management's estimates and assumption as of the date of this press release, you should not attribute undue certainty to these forward-looking statements. We assume no obligation to update any forward-looking statements publicly, or to update the reasons why actual results could differ materially from those anticipated in any forward-looking statements contained in this press release, even if new information becomes available in the future.
The transaction has been approved by the Boards of Directors of both companies and is currently expected to close during the first quarter of 2021. The transaction is subject to customary conditions, including the approval by stockholders of Reflect Systems, and customary regulatory approvals.
Additional Information about the Merger and Where to Find It
WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT ON FORM S-4, THE PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IN CONNECTION WITH THE PROPOSED TRANSACTION BECAUSE THESE DOCUMENTS DO AND WILL CONTAIN IMPORTANT INFORMATION ABOUT CREATIVE REALITIES, REFLECT, AND THE PROPOSED TRANSACTION.
Investors and security holders may obtain copies of these documents free of charge through the website maintained by the Securities and Exchange Commission at www.sec.gov or from Creative Realities at its website, http://www.creativerealities.com/. Documents filed with the SEC by Creative Realities will be available free of charge by directing a request by telephone or mail to Creative Realities, Inc., 13100 Magisterial Drive, Suite 100, Louisville, KY 40223; phone: (502) 791-8800
Participants in the Transaction
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SOURCE Creative Realities, Inc.
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