Daktronics agrees to purchase Belgium display manufacturer
Brookings, S.D. - Januar y 11, 2013 - Daktro nics, Inc. ( NASDAQ: DAKT ) has entered into an agreement to purchase OPEN Out -of-Ho me Solutio ns (OPEN), a B elgium co mp any. OPEN is a E uropean industr y leader in providing light bo xes and scroller s, ad vertising sig ns and billboard ad vertising displays to third party ad vertising (T PA) co mpanies. OPEN has been in business over 2 0 year s, and it is privately o wned.
Daktronics and OPEN have been cooperating to manufacture and deliver digital displays in Europe using OPEN's proprietar y cabinetr y system and Daktronics' designed and manufactured electro nics for the past few year s. With the addition o f this co mb ined digital product and OPEN's product line to Daktronics' existing display systems offerings, Daktronics posi tio ns itself in the E uropean mar ketplace with a co mplete product line fo r TPA co mpanies.
Under the agreement, Daktronics will acq uir e a modern 40,000 square foot facility with o ffice and manufactur ing space. Having a manufacturing facility in E urope wi l l allo w Daktro nics to better ser ve the E urope/ E urasia T PA mar ket with co mpetitive pr icing and deliver y.
Daktronics will be wor king with OPEN over the next few mo nths to co mp lete the acquisitio n and integrate OPEN into Daktronics. T he clo sing is expecte d to occur in May 2013, at which point OPEN will operate as part of Daktronics. Under the agreement, Daktro nics will acquire all of the stock of OPEN. T erms o f the agreement are confidential.
About Da ktronics
Daktronics has stro ng lead ership positio ns in, and is the world 's lar gest supplier of, lar ge screen video displays, electro nic scoreboards, LE D text and grap hics displays, and related co ntrol systems. T he co mpany excels in the
control o f display systems, including those that req uire integration o f multiple co mplex displays sho win g real - time infor matio n, graphics, animation, and video. Daktronics designs, manufactures, mar kets and services
display systems for custo mer s around the world in four do mestic b usiness units: Live Events, Co mmercial, Schools and T heatres and T ransportatio n, and one I nternatio nal b usiness unit. For more infor matio n, visit the co mpany's World Wide Web site at: http :// www.daktro nics.co m, e -mail the co mp any at
investor @daktronics.co m, call (605) 692 -0200 or toll-free (800) 8 43-5843 in the United States or write to the
co mpany at 201 Daktro nics Dr., PO Box 5128, Brookings, S.D. 57006 -5128.
Safe Harbor State ment
Cautio nar y Notice: I n ad dition to statements o f historical fact, this news r elease co ntains for ward -looking
statements within the meaning of the Private Securities Litigatio n Refor m Act of 1995 and is intended to enjo y the protectio n o f that Act. T hese for ward -looking statements reflect the Co mpany's expectations or beliefs concer ning future events. T he Co mpany cautio n s that these and similar statements involve risk and uncertainties which could cause actual r esults to differ materially fro m our expectatio ns, including, but not limited to, changes in eco no mic and market conditio ns, management of gro wth, timing and magni tude o f future co ntracts, fluctuatio ns in mar gins, the introductio n of new products and technolo gy, the impact of adverse weather conditions and other risks noted in the co mpany's SE C filings, including its Annual Report on For m 10 -K for its
2012 fiscal ye ar. For ward -loo king statements are made in the co ntext o f info r mation availab le as of the date stated. T he Co mpany undertakes no obligatio n to up date or revise such statements to reflect ne w circumstances or unanticipated events as they occur.
For mo re informatio n co ntact:
INVEST OR RE LAT IONS:
Sheila M. Anderso n, Chief Financial Officer
T el (605) 692 -0200
Investor@daktro nics.co m