NZ-based Wallflower snatched up for $20m
Its rapid success was based on a flexible and easy-to-use software package developed almost by accident four years ago while Synergetix was looking at Eftpos screen advertising between transactions.
Wallflower director Tony Scott admitted to being "stunned" but "hugely excited" by the Global Satellite Broadcasting Corporation (GSBC) purchase.
"We had been talking to a number of companies for a while, but these guys [GSBC] have a really exciting vision that finally persuaded us," he said.
"It's a terrific opportunity for Wallflower to accelerate its international roll-out with GSBC and the SmartScreen technology. It's a great fit."
Under the deal, Scott will stay on board as CTO and President of the newly branded GSBC Wallflower. He said that the entire New Zealand team would also remain.
"GSBC has bought the team, the software and the reseller network," he said.
"We bring to GSBC extensive experience in all aspects of Dynamic Digital Signage software. Our R&D team will provide GSBC additional depth and pioneering areas of DDS, such as Advanced Analytics, Facial Recognition Analytics and new methods of media deployment."
Thai-based GSBC aims to become the first global supplier of a fully integrated digital advertising platform with telephony data transfer management systems, and has recently purchased another seven businesses around the world.
Scott said that Wallflower fulfilled its ambitions within Australasia and also supplied expertise in corporate and kiosk signage. "They already have contracts signed and sealed to roll out hundreds of thousands of screens in China," he said.
Scott said that the acquisition will see growth in Wallflower's existing R&D department, along with substantial growth in its New Zealand operations overall.