Digital signage titan PRN acquired by Thompson for $285M

The big kahuna of the digital signage industry, PRN, has announced (just after pulling its IPO), that it will be acquired by French firm Thompson. From the PR:

"Out-of-home video networks are attracting a growing share of US advertising spend with a projected annual growth of over 25%. The growth of this market segment has been accelerated by advertisers' demand for alternative media reaching more engaged audiences compared to traditional TV advertising. In addition, this segment has benefited by the improving quality of data measuring the effectiveness of such out-of-home networks, and by the falling prices of networking infrastructure and flat-panel displays."
...
" The purchase price is approximately $285 million payable in cash, including a normalized level of working capital. Bearing in mind PRN's strong growth and profitability, the business meets Thomson's return and price criteria. The acquisition is subject to the usual regulatory requirements and is expected to close during the fourth quarter. PRN is expected to be accretive to earnings in 2006."

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