The Acquisition Significantly Broadens ClearOne's Current Offerings and Expands Its Digital Signage Product Portfolio with Industry-best Tools for Content and Playlist Creation and Management
SALT LAKE CITY, Sept. 6, 2011 /PRNewswire/ -- ClearOne (NASDAQ: CLRO), a global communications and entertainment solutions company, today announced its acquisition of MagicBox, Inc. The acquisition is a part of the company's broader strategy to capitalize on emerging market opportunities as audio video, information technology, unified communications and traditional digital signage converge to meet enterprise and commercial multimedia needs.
"The combined expertise of the two companies brings to the market, the only complete, end-to-end digital signage content management and IP streaming solution," said Zee Hakimoglu, Chairman and CEO of ClearOne. "The MagicBox content management and control technology and their industry leading database integration software are the perfect compliments to ClearOne's StreamNet™ systems."
Privately-held MagicBox, headquartered in Corvallis, Oregon and founded in 1995, designs, develops and markets a variety of hardware and software solutions to deliver digital content and information to digital displays.
"MagicBox and ClearOne have complementary products for a broad spectrum of applications," said Tom Searcy, founder of MagicBox. "One of the single-most challenging requirements for any digital signage provider is the ability to distribute content over a wide-area network while maintaining control and scheduling alignment. StreamNet technology delivers low-latency HD distribution over IP which is a perfect fit with MagicBox's content creation, scheduling, database integration and digital signage domain expertise."
The acquisition presents both companies with new global market opportunities and accelerated product development. It also brings economies of scale to MagicBox, which will be leveraged to execute go-to-market strategies.