Barco announced the sale of Montréal-based X2O Media to STRATACACHE. STRATACACHE will offer an enhanced focus and new growth opportunities for X2O. After its acquisition in 2014, X2O became part of Barco’s Enterprise division, which focuses on solutions for meeting and control rooms. Over the years, X2O secured top tier customers including John Deere, Verizon, FoxNews and Accenture. All customer agreements will continue to be managed by X2O to ensure continued support and service for current customers.
“The decision to divest X2O Media comes after a careful evaluation of its profitability and growth opportunities,” says Jan De Witte, Barco’s CEO. “As digital signage is no longer a strategic focus for Barco, we are convinced that selling X2O to a major player like STRATACACHE will provide the company with the focus and contacts it needs to reach the next level of scale and success.”
“With the acquisition of X2O Media, we will expand our portfolio with a complete solution for dynamic content display based on real-time data, plus great new tools in the E-Learning and Broadcast Markets,” says Chris Riegel, CEO of STRATACACHE. “The X2O software platform versatility, and its capability to address any display – be it fixed or mobile – will prove to be an important asset. This complementary technology will help us to further build on our core competences in the ever expanding digital display and data visualization marketplace.”
X2O Media employs about 45 people and will continue to operate from Montréal, Canada. Today, the company reports annual sales of 5 million euro with EBITDA close to break-even. Final closing of the transaction is subject to customary closing conditions and is expected in the coming weeks.