Minicom Advanced Systems announced that it would spinout its digital signage division ("MDS"). The new company simultaneously announced that it had raised $6 million to finance its operations independently. The investment, which was led by Jerusalem Venture Partners and joined by Aviv Ventures, will enable the company to broaden its platform from its new offices in Jerusalem's JVP Media Quarter.
MDS is a leading vendor of media distribution solutions for the Digital Signage and Digital out of Home (DooH) marketplace. According to MDS' CEO, Ronni Guggenheim, "This investment is the natural next step in MDS' lifecycle. The support of our investors positions us to explore inorganic growth options and to drive the acceleration of our product roadmap towards the establishment of MDS as a full scale enabling platform in the digital signage market."
MDS' technology is currently deployed on over 400,000 screens worldwide, and facilitates the distribution of content to consumers in retail, education, finance, transportation, and hospitality environments. In addition to the company's headquarters in Israel, MDS has offices in the UK, Switzerland, and the US in order to meet the localized needs of its customers.
Gadi Tirosh, General Partner at JVP, explains that "MDS, with its seasoned leadership, global footprint, and strong operating history from within Minicom, is poised to build a broader platform in this growing but still fragmented market." JVP typically invests in businesses that apply technology acumen towards the development of new media models, and with its investment in MDS, now enters another segment of traditional media that is on the verge of digitization.