Minicom Spins Out its Digital Signage Division; Raises $6 Million from JVP and Aviv Ventures for the New Venture
JERUSALEM, ISRAEL (March 24, 2010) Minicom Advanced Systems, a developer of remote access, KVM, and digital signage solutions, today announced that it would spinout its digital signage division (MDS). The new company simultaneously announced that it had raised $6 million to finance its operations independently. The investment, which was led by Jerusalem Venture Partners and joined by Aviv Ventures, will enable the company to broaden its platform from its new offices in Jerusalems JVP Media Quarter.
MDS is a leading vendor of media distribution solutions for the Digital Signage and Digital out of Home (DooH) marketplace. According to MDS CEO, Ronni Guggenheim, This investment is the natural next step in MDS lifecycle. The support of our investors positions us to explore inorganic growth options and to drive the acceleration of our product roadmap towards the establishment of MDS as a full scale enabling platform in the digital signage market.
MDS technology is currently deployed on over 400,000 screens worldwide, and facilitates the distribution of content to consumers in retail, education, finance, transportation, and hospitality environments. In addition to the companys headquarters in Israel, MDS has offices in the UK, Switzerland, and the US in order to meet the localized needs of its customers.
Gadi Tirosh, General Partner at JVP, explains that MDS, with its seasoned leadership, global footprint, and strong operating history from within Minicom, is poised to build a broader platform in this growing but still fragmented market. JVP typically invests in businesses that apply technology acumen towards the development of new media models, and with its investment in MDS, now enters another segment of traditional media that is on the verge of digitization.
About Minicom Advanced Systems
Minicom Advanced Systems provides KVM remote access, extension and management solutions designed to expedite and simplify IT services. Tailored for IT managers who need secure, centralized, and seamless access to their mixed IT environments, these solutions enable local, remote, in-band and out-of-band access and management. Minicom’s unique approach maximizes past investments in IT infrastructure, installation, and training while adding innovative technology, resulting in reduced costs and increased productivity.
Founded in 1988, Minicom is a member of Intel Capital’s portfolio of companies. In 2009, Minicom established Minicom Digital Signage. With headquarters in Israel and regional offices in North America, Europe and China, Minicom operates in over 70 countries.
About Minicom Digital Signage
Minicom Digital Signage is the world leader in the manufacture of advanced multimedia platforms. The companys award winning solutions enable the transmission of rich content from media players to multiple digital displays located hundreds of meters/feet away. They also keep network costs down by reducing equipment and licensing requirements, and better preserving its customers systems. Today, over 400,000 screens worldwide are run on Minicom Digital Signage technology. Minicom Digital Signage began as a subsidiary of Minicom Advanced Systems, which has over two decades of experience in providing innovative technology solutions in the manufacture of media distribution and digital out of home multimedia platforms.
JVP is one of the leading venture capital funds in Israel. The fund operates from Jerusalem and manages over $780 million. JVP focuses on building market leaders in the fields of digital media technology, including gaming and virtual worlds, mobile media, software and hardware applications and Internet advertising. With leading industry venture partners and consultants in New York, Los Angeles and Europe and an international network of strategic partners, JVP leverages its unique market expertise, its dedicated management team and substantial capital base to build companies with the potential of shaping the global markets.
About Aviv Ventures
Aviv Ventures invests in Israel related technology companies, with a focus on companies providing “high-tech solutions to low-tech industries”. The fund seeks to invest in revenue stage companies as they transform themselves from R&D centric organizations into globally oriented companies with customer facing operations. Aviv helps its portfolio companies to bridge geographical and professional gaps as they grow and develop from Israel to world markets.
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