Creative Realities up 80% after announcing a merger
- According to the merger , Reflect Systems will continue operations under the name of Creative Realities.
- Reflect Systems will retain its chief executive officer.
- Both parties to the merger agreement expect to close the deal by the start of 2022.
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Creative Realities Inc (NASDAQ: CREX) recently announced that it was entering a merger agreement with Reflect Systems. This saw the stock shoot up by 80%. According to the merger agreement, Reflect Systems will now work under the name of Creative Realities.
What did senior management have to say?
CRI’s current Chief Executive Officer, Rick Mills, the man who’ll continue to act as the combined company’s CEO, believes that this will be a perfect combination. He said:
Combined, we offer some of the most comprehensive digital signage and media solutions available in a powerful one-stop shop for customers.
The CEO said that their company has a strong of providing sophisticated and large-scale digital signage projects and innitiatives driven by its exceptional project management and creative teams.
On the other hand, Reflect Systems has industry-leading content management systems such as ReflectView, which has slowly become a standard for reliable, flexible, and scalable digital signage.
Mr. Mills believes that the addition of such products will help both companies provide some of the best and most comprehensive media solutions and digital signage in a broad one-stop-shop.
Reflect Systems’ current Chief Executive Officer, Lee Summers, will also stay at the company’s helm and lead its AdTech programs. Mr. Summers said:
Not only do CRI and Reflect have complementary offerings, but we have also traditionally been strong in complementary markets. While CRI has excelled in Quick Service Restaurants, stadiums and C-store markets, Reflect has become an industry leader in retail, healthcare, banking and corporate communications.
Details of the merger agreement
Unlike other digital signage acquisitions, Creative Realities is looking to integrate both companies fully. As a result, creative Realities has positioned itself well to continue strategic and organic growth using how it’s succeeded in the past with its combination efforts as its foundation.
By fully integrating its business operations and solutions, the company believes that it can provide the marketplace with some of the most competitive and best products and services in the digital signage space. The main company headquarters will be in Louisville.
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