Friday, July 08, 2005

Limelight Media Group partners with IMPART

From my favorite sketchy OTC BB digital signage company:

Limelight Media Group, Inc. (OTC BB:LMMG.OB - News) an innovator in the creation and management of out-of-home digital advertising networks, today announced that on June 30, 2005, it completed its acquisition of IMPART, Inc., a leading full-service provider of dynamic media solutions. The all stock transaction -- detailed in the company's 8K filing to be filed with the Securities and Exchange Commission today -- includes a reincorporation in Delaware within 90 days. The companies intend to centralize operations in Seattle. As part of the deal, IMPART, Inc. will maintain its name and brand identity and operate as a wholly owned subsidiary of Limelight Media Group, Inc. There are no anticipated layoffs expected at either company as a result of the acquisition and the existing management team for both organizations will remain intact.
Currently, IMPART manages more than 1,300 digital signage installations and maintains a growing subscription base of marquee clients that include some of the nation's top banks, brands, retail companies and public/government spaces. As a pioneer in the delivery of digital media applications, IMPART offers Limelight a 22-year legacy of market experience and additional infrastructure for deployment into the emerging Point of Decision (POD) markets in retail, banking, corporate and other industries. Furthermore, management believes the acquisition will accelerate the combined organization's ability to offer an advertising-based revenue model. Both companies will benefit from more effective utilization of infrastructure and industry relationships that will help in the delivery of complete, turnkey media solutions. This single-source, turnkey approach is fundamental to this emerging market, which has been riddled with the complexity of multi-vendor approaches using different systems and oftentimes conflicting strategies. The two companies believe that together they can establish a strong industry foundation, spurring potential future consolidation in the digital media industry.

You can read the complete release here.

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