Newport Digital Technologies Quits The Industry
Adrian J Cotterill, Editor-in-Chief
Newport Digital Technologies, Inc. (OTC: NPDTE) announced a few days ago, we quote “Company Elects to Discontinue Efforts to Compete in the Digital Signage Market, Plans To Complete Restructuring and Explore Alternatives” and err, err .. yes, who the hell knew they were (supposedly) in the digital signage space?
Still, it’s another tango uniform (of sorts) to add to either Wirespring’s Bill Gerba’s original ‘M&A List: Digital Signage Mergers, Acquisitions and Bankruptcies‘ or his more recent ‘2011 M&A List: Mergers & Acquisitions in Digital Signage and DOOH‘
As a listed company Newport Digital Technologies was compelled to provide an update to shareholders which it did (you can read the entire update here) but basically what they are saying is that they have formally discontinued efforts to compete in the wireless, interactive digital signage solutions business.
Newport attempted to enter the digital signage marketplace in partnership with Convergent Holdings but claims that it was unable to attract the capital necessary to compete with much larger, better funded competitors in the space.
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