Hardware, software and expert advice for digital signage and kiosks
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Hardware, software and expert advice for digital signage and kiosks |
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SignageWireNewSight Corporation Surrenders Collateral to Wireless RoninAuthor: WireSpring on 2008-08-22 10:29:34 MarketWatch points out some bad news for RNIN:Wireless Ronin Technologies, Inc., a Minneapolis-based digital signage provider, today announced that it has reached agreement with NewSight Corporation to terminate its digital signage agreement and to take ownership of the hardware and software constituting the in-store network at 102 Meijer stores and inventory of hardware necessary to build out approximately 40 more such stores. "Our belief was that NewSight would have completed its financing transaction in the first half of 2008, laying the groundwork for NewSight's future operations," said Jeffrey C. Mack, Wireless Ronin Technologies President and CEO. "When NewSight failed to obtain such financing, we engaged in discussions resulting in Wireless Ronin taking control of the hardware and software constituting the Meijer in-store network. We are pleased to also have entered into an agreement that provides for the continued operation of the Meijer network, thereby eliminating any disruption to Meijer or its customers. We have also entered into discussions with several national network providers focused on the build-out of the remaining Meijer stores with continued management of the Meijer network by Wireless Ronin. " Our take: While Bill might simply say "I told you so," we'd take the slightly more diplomatic stance of saying "don't trust all of your first year's revenue to a start-up company." Of course, when the chips are down and you're a newly-IPO'd firm that needs to show the ability to generate some revenues, we suppose that the pressure might drive the management team to make some bad decisions out of pure desperation. Plus, the digital signage market is still hot enough to attract lots of outside investments, so NewSight was probably able to talk a good enough game to keep Ronin's team hopeful for a long while. It's unclear what Ronin plans to do with the Meijer network or the inventory of hardware on hand to continue its build out. We expect to hear more in the near future. Comments (0)
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Previous Article: Kiosks Improve Customer Experience at Borders Next Article: PRN to Operate In-Store Media Network for Walmart Mexico LEGAL STUFF: SignageWire is written by the WireSpring staff but may periodically include articles by guest authors. The author of each article is clearly identified at the start of the article. The opinions expressed in each article are solely those of the author, and do not reflect the official opinions of WireSpring Technologies, Inc. All SignageWire articles are copyright © 2008-2009 WireSpring Technologies, Inc. or the guest author, as appropriate. All content besides the actual article text, e.g. surrounding branding and informational content, is copyright © 2000-2009 WireSpring Technologies, Inc. All rights reserved. Except as provided in WireSpring's Republishing and Syndication Policy, no SignageWire content may be reproduced, in whole or in part, without WireSpring's express written consent.
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