PxPixel
Broadsign is Acquired by JeDFam Group - AvNetwork.com

Broadsign is Acquired by JeDFam Group

Author:
Publish date:

When Broadsign filed Chapter 11 bankruptcy on March 4 this year, I wrote in these pages that BroadSign’s largest investors were poised to buy the company, and try to increase market share– in Digital Signage– from a more stable capital base. The key investor was Burr Smith, Chairman of the Board of Broadsign at the time of the Ch. 11 filing, who held a large relative share of the company and indeed funded the spurt in growth in the past three-four years. Under procedures approved by the bankruptcy court, Broadsign held an auction on May 8, 2012 to learn whether anyone would top the offer for the business made by JeDFam Group LLC (Burr Smith is President of the JeDFam Group.) At the time of the Ch. 11 filing, Boise, Idaho-based Broadsign owed a total of $5.7 million to JEDFam on two first-lien obligations (and the lender agreed to provide another $322,000 to finance the Chapter 11 case). Other secured lenders were owed an aggregate of $6.8 million on obligations junior to the JEDFam debt, according to court filings. JEDFam also owned 25% of the Broadsign stock.

In a press release issued today by Broadsign, the company announced that is has successfully completed its sale to the JeDFam Group.

Here is the press release today from Broadsign:

BROADSIGN SUCCESSFULLY COMPLETES SALE TO JEDFAM GROUP

Industry-Leading Digital Signage Software Provider Poised to Extend its Market Dominance as a Balanced and Striving Global Enterprise. 

Montreal, Canada, May 31, 2012 – BroadSign International, Inc. (“BSI”) announced today it has been acquired by JedFam Group, LLC (“JedFam”) almost three months after it filed for protection under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. The Bankruptcy Court recently approved a sale of BSI’s assets to JedFam, and BSI will emerge from bankruptcy as BroadSign International, LLC. and Brian Dusho will remain as Chief Executive Officer of the digital signage software provider.

“Today marks the start of a new chapter for BroadSign,” said Brian Dusho. “Thanks to widespread support from our lenders, customers, partners and friends, our operations have remained robust through this process.“ Mr. Dusho reported that BroadSign has experienced unprecedented growth in recent months. “I am especially grateful to our employees around the world whose continued hard work and focus have been instrumental in enabling us to reach this achievement and who will be important contributors to our future success,” he said.

About BroadSign

BroadSign International, LLC. is the leading worldwide provider of software-as-a-service for digital signage networks. Some of the world’s largest and most successful digital signage networks run on BroadSign’s platform, taking advantage of its comprehensive functionality, reliability, ability to automate operations and a virtually unlimited capacity for growing networks without adding personnel.

BroadSign’s software-as-a-service model offers digital signage networks the freedom to enjoy the full potential of the most advanced software without the burden of building out, staffing and maintaining their own hosting infrastructure.

Press contact:

Daniel Parisien

+1 (514) 3991184

welcome@broadsign.com

Related

BroadSign Acquires Navori

BroadSign International, Inc. (BroadSign), provider of hosted software for managing digital signage networks, announced Feb. 5th that it has entered into an agreement to acquire privately-held Navori International S.A. (Navori). The Switzerland-based company provides software solutions for closed digital signage networks. Financial terms of the agreement have not been disclosed. This acquisition reinforces BroadSign’s leadership as the premier software provider in the digital signage industry and expands the company’s presence in the European and Pacific Rim markets with a centrally located facility for sales, support and services staff. It also builds on the company’s leadership position in the expected industry consolidation and adds to BroadSign’s market share and vertical penetration...

BroadSign Files Chapter 11, Seeks to Reassure Customers

By David Keene Digital Signage Content Management Software provider, BroadSign, filed for Chapter 11 bankruptcy protection over the weekend. The company, based (technically/legally) in Boise, Idaho, listed debt of $10 million to $50 million and assets of $1 million to $10 million in Chapter 11 documents filed late Su

Broadsign Expands

BroadSign International has announced it is expanding its global presence beyond its current base in North America and Europe into Asia, specifically targeting India and China. A recent customer win in India is launching BroadSign’s presence in the region, after beating out more than 20 other competing vendors to provide the software that will drive a retail digital signage network encompassing more than 300 stores, with plans by the retailer for thousands of stores in the future. BroadSign’s software, delivered via a Software as a Service (SaaS) model, powers digital signage networks in stores, restaurants, malls and transportation hubs around the world. The company expects its experience working with both network operators and retailers to be beneficial in India and China, where retailers are often building and operating the networks themselves. In addition, BroadSign’s focus on scalable software that remains affordable to manage even as the number of

Broadsign and DPN

BroadSign announced August 21st that Massachusetts-based Digital Promo Network (DPN) will use the BroadSign Suite to deploy a digital signage network in 500 convenience stores by the end of 2007, with plans to expand the network to 2,000 stores over the next 18 months. BroadSign provides hosted software for powering digital signage networks in stores, restaurants, malls and transportation hubs around the world. BroadSign's digital signage network software will allow DPN's advertisers to buy and schedule in-store video spots in a targeted and efficient manner and manage networked content from one central location. Each convenience store location will have up to two screens that will play ads promoting the products sold in-store as well as other relevant information and entertainment content. The full-color digital displays, managed by BroadSign software, will allow the stores to capture the attention of customers, increasing the performance of its point-of-purchas

BroadSign Files Chapter 11, Seeks to Reassure Customers

By David Keene Digital Signage Content Management Software provider, BroadSign, filed for Chapter 11 bankruptcy protection over the weekend. The company, based (technically/legally) in Boise, Idaho, listed debt of $10 million to $50 million and assets of $1 million to $10 million in Chapter 11 documents filed late Su

RMG Acquires Symon

Ad-based network operators such as RMG Networks see the digital signage industry as a true DOOH play, not vice versa. In other words, they are interested in the creation of digital place-based networks, not in the proliferation of screens per se. Digital Signage Content Management Software providers on the other hand, love screens of any kind– the more the merrier.

Broadsign and rVue

Broadsign International, provider of digital signage software, and rVue, Inc. a subsidiary of rVue Holdings, announced today that the Open API integration between the two platforms has been completed. BroadSign carried out the initial phase of integration with rVue last year, becoming the first digital signage softwa

Planar Acquired by Leyard promo image

Planar Acquired by Leyard

Portland, OR-based Planar will be acquired by a U.S. affiliate of the Chinese company Leyard (for a purchase price of $6.58 per share, or approximately $156.8 million).