Toronto, Canada-based Mood Media, an in-store provider of retail media and digital signage, has purchased the assets of Technomedia Solutions, the Orlando, FL-based integration firm that John Miceli built after he sold Soundelux to Liberty Media in 2001. From the Financial Post:
Mood Media Corp. has acquired the assets of Technomedia Solutions and its sister company, GoConvergence, for approximately U.S. $23-million in cash.
Toronto-based Mood Media may also make an additional payment in 2014, depending on the profitable growth of the operations.
Technomedia is a Florida-based company that designs advanced audio-visual systems for venues such as theme parks, restaurants and retail clients. Among Technomedia’s customers is clothing retailer Abercrombie & Fitch, the Hard Rock Cafe chain of restaurants and Cirque du Soleil.
Mood Media, formerly Fluid Music Canada, has been on an acquisition spree of late, starting in 2011 with the purchase of background music company Muzak, and the purchase of DMX, a provider of multi-sensory branding services, in March, 2012.
The acquisition of Technomedia—including partner company Go Convergence, a customer engagement marketing firm—continues Mood Media’s expansion into video, digital signage, and interactivity.
It also begins to address one of the key questions on everyone’s mind through 2012: Where will the content come from? Will more integrators acquire agencies to supply the necessary branded material for their signage ventures? Or will they build these agencies from the ground up, in-house? Whatever the case, this deal points to what may be the model of the future for place-based marketing, where agency, content creator, and integrator are one and the same.