LSI Industries Inc. has acquired from 3M, for an undisclosed price, certain assets in connection with 3M's digital signage business including hardware, software, and access to customer relationships. The Graphics business segment of LSI Industries has worked with 3M in the digital signage business for many years and has ongoing business relationships with customers of 3M's digital signage solutions.
David McCauley, President of the LSI Graphics Segment, commented, " 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. We look forward to expanding into new market segments, serving national and international brands, and responding to the 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."
Scott D. Ready, President of LSI Industries Inc., commented, "This acquisition is consistent with LSI Industries' objective of investing and promoting technology within both its graphics and lighting businesses."