ZetaDisplay has entered into an agreement to acquire all of the shares in Norwegian digital signage solution provider, Webpro, for approximately 21 million krone ($2.58 million) plus additional, performance-based supplemental payments.
Webpro’s largest customers are Ikea and McDonalds in Russia. In 2017, the company had sales of 24 million krone ($2.95 million), of which contracted and recurring revenue accounted for approximately 6.5 million krone ($798,000). Operating earnings were 4.1 million krone ($503,300). The company’s solutions are installed in over 75 IKEA stores around the world and in over 600 McDonalds restaurants.
Closing on the shares is planned to take place during the third quarter of 2018. ZetaDisplay has acquired multiple digital signage firms over the past 12 months, including the Netherlands’ QYN and Finland’s Seasam. It acquired Marketmedia, also based in Finland, in 2015.
