Panasonic Acquires NYC-based MagicInk Interactive LLC
Acquisition of rapidly growing provider expands Panasonic's reach in digital place-based networks, including indoor screens and branded content
Jun 29, 2015, 09:00 ET
NEWARK, N.J., June 29, 2015 /PRNewswire/ -- Panasonic has acquired MagicInk Interactive LLC, a New York City-based, privately-held provider of hardware, software and integration services for digital indoor networks for high-end retail, hospitality and corporate clients. MagicInk's digital place-based media offer branded content on screens where people congregate and linger, such as hotel lobbies, conference centers and retail shopping areas. With the acquisition, Panasonic benefits from MagicInk's expertise while leveraging its own outdoor display integration and project management capabilities to expand into other regions and markets. Panasonic also purchased MagicInk's AdSpaceInk brand, which provides large- and grand-format printing capabilities.
The acquisition marks another milestone in Panasonic's continuing efforts to accelerate growth in its business-to-business operations.
"After reviewing the potential acquisitions in this area, we believe that MagicInk is well positioned to help us significantly expand our digital signage business. This is just one in a series of planned initiatives," said Jim Doyle, President of Panasonic Enterprise Solutions Company. "MagicInk is a leader in digital place-based solutions for high-end retail, hospitality and corporate clients. It brings multiple paths for continued profitable growth."
"Our relationship with Panasonic Enterprise Solutions is rooted in mutual respect, shared values and optimism about the promise of the digital signage market," said MagicInk Founder and CEO Eddie Kreinik. "We hold shared views on excellence, customer service and the same passion for the business. With the Panasonic brand, technology, engineering expertise, and reputation in sports and entertainment video boards, we can expand what we offer to our existing customers and move into new markets."
Panasonic Enterprise Solutions has received industry acclaim for installing some of the largest HD LED video boards in the world, including Guinness World Record-certified "Big Hoss TV" at Texas Motor Speedway, the world's largest 4K Ultra High-Definition LED video board at Churchill Downs, a major digital upgrade at Indianapolis Motor Speedway and the renovated Nasdaq Market Site Tower display in Times Square.
Since its founding in 2008, MagicInk has completed more than 150 digital place-based installations, including the Perry Ellis boutique at Macy's Herald Square, Avon's corporate offices in New York City, the Kimberly Hotel's Upstairs rooftop bar in midtown as well as projects for Tag Heuer, Steve Madden, Hugo Boss and Kenneth Cole.
About Panasonic Corporation of North America
Panasonic Corporation of North America provides a broad line of digital and other electronics products and solutions for consumer, business and industrial use. The company is the principal North American subsidiary of Osaka, Japan-based Panasonic Corporation and the hub of Panasonic's U.S. branding, marketing, sales, service and R&D operations. In Interbrand's 2014 annual "Best Global Green Brands" report, Panasonic ranked number five overall and the top electronics brand in the report. As part of continuing sustainability efforts, Panasonic Corporation of North America relocated its headquarters to a new facility, adjacent to Newark Penn Station in Newark, NJ. It is the first newly constructed office tower in Newark to earn both LEED Platinum and Gold certifications from the U.S. Green Building Council. Learn more about Panasonic at us.panasonic.com/news.
About Panasonic Enterprise Solutions Company
Panasonic Enterprise Solutions Company, a division of Panasonic Corporation of North America, designs, installs and services large-scale Audio-Visual and Eco technology solutions for the enterprise market. Panasonic Enterprise Solutions serves customers across a wide range of industries with customized applications using cutting-edge technologies, experience in managing large-scale, complex corporate projects and dedicated onsite support services. The Audio-Visual Solutions team is an industry leader in high-end digital display solutions, having installed some of the largest high-definition LED video boards in the world at well-known sports and entertainment venues, including Churchill Downs, Texas Motor Speedway and Indianapolis Motor Speedway. Eco Solutions provides expertise in end-to-end solar energy projects and delivers technological and financial solutions to the expanding commercial and industrial renewable energy markets. Learn more about Panasonic at us.panasonic.com/news.
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SOURCE Panasonic Corporation of North America