JohnRyan Acquired By @Comqi
ComQi, owned by display manufacturer AUO (TAIEX: 2409) has acquired JohnRyan. The press release stated that ComQi will continue to focus its digital signage and interactive platform on mainstream retail, while subsidiary JohnRyan will continue to focus primarily on the financial services/retail banking sector it has serviced for the last 35 years.
We understand that both companies will operate as separate entities under the AUO umbrella. ComQi’s head office is located in New York City, while JohnRyan’s primary office is in Minneapolis, MN.
Paul SL Peng, Chairman and CEO of AUO said “Our acquisition of ComQi two years ago, and now with ComQi’s acquisition of JohnRyan, shows AUO’s commitment to providing a total end-to-end solution in the ‘field economy’ that can serve all aspects of retail and beyond. We understand that a complete solution benefits from deep domain knowledge of the sector, along with a rich and thorough hardware, software and services offering. Together, our group has the right combination of people, insights, technology and services to deliver the best of class digital signage solution for smart retailing”.
Parent company AUO, located in Hsinchu, Taiwan, is of course one of the world’s largest display manufacturers, with USD 10B in annual sales and around 38,000 employees globally.
Andy Yang, Vice President of Strategic Investment and New Business Operations of AUO said “We continue to look for M&A opportunities that will bring broader products and services to our clients”.
Stu Armstrong, Group President of ComQi, will lead sales for both companies.
The acquisition closed today. Terms of the acquisition are private. ComQi was represented by Daniel Chinn from AYR law office.
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