Adrian J Cotterill, Editor-in-Chief
RMG Networks announced yesterday that it has been converted to a privately held entity in a transaction led by Virgo Capital with participation from existing investor Gregory H. Sachs.
Gregory H. Sachs told us “I’m proud and excited to continue my commitment to RMG and believe, given our strong balance sheet, we will be very successful in expanding our footprint as the dominant player in the digital signage industry. I can’t think of a better partner than Virgo Capital to help accelerate our growth strategy”.
The transaction included a large capital infusion to be used towards growth and acquisitions. Virgo Capital, based in Austin, Texas, is a leading private equity firm focused on control investments in established enterprise technology companies. Virgo works closely with management teams and leverages its own experience and expertise to build valuable market leaders.
Hemanth Parasuram, Co-Founder and Managing Director of Virgo Capital said “RMG has consistently provided innovative solutions to some of the world’s leading companies for over 25 years. We are committed to work closely with the RMG team to strengthen our position as the market leader in the digital signage space with their exciting new solutions”.
Virgo Capital targets companies with revenue of $10 to 100 million, proven solutions and strong customer relationships, and actively works with management to drive growth and build market leaders.
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