“We look forward to expanding into new market segments, serving national and international brands, and responding to the ever-changing needs of our customers."
LSI Industries has announced the acquisition of certain assets of 3M’s digital-signage business, including hardware, software, and access to customer relationships.
“We have enjoyed a long relationship with 3M. This acquisition will add significant depth to our capabilities as we supply our customers with total digital-signage solutions from project concept through content development, deployment, assessment, and system monitoring,” says David McCauley, president of LSI’s Graphics Segment. “We look forward to expanding into new market segments, serving national and international brands, and responding to the ever-changing needs of our customers. This acquisition, while not material from a current sales and earnings standpoint, affords us economies of scale, lowers our cost structure, and is expected to improve profit margins through software ownership. We are excited about the opportunities that this acquisition provides."
Headquartered in Cincinnati, LSI Industries was established in 1976. It produces high-performance, energy-efficient lighting and custom graphic products as well as lighting and energy-management control solutions; it also offers design support, engineering, installation, and project management for custom-graphics rollout programs for retail environments. The company has facilities in Ohio, Kansas, Kentucky, New York, North Carolina, Oregon, Rhode Island, Texas, and Montreal.
“3M Commercial Graphics Division and LSI Industries have had a long and productive relationship across several 3M product lines, from large-format graphics to digital signage. That, in addition to LSI’s seven years of experience using the 3M Digital Signage Software – Network Edition platform, made LSI a great fit for this business,” says Robert Doughty, VP, 3M Commercial Graphics Division. “We understand how important these systems are to customers’ operations, and are pleased that LSI has also agreed to provide support for these existing digital-signage software customers.”