SAN FRANCISCO--(BUSINESS WIRE)--Mood Media (the “Company”), the world's leading in-store media solutions company driving elevated Customer Experiences, today announced it has acquired PlayNetwork, a global music technology partner and audiovisual systems provider supporting customer experience for brands worldwide from Octave Group. Financial terms of the transaction were not disclosed.
PlayNetwork offers in-store and digital curated music, original and managed video programs, content licensing, audio visual systems, digital signage, and consumer insights to over 400 customer brands at more than 100,000 locations in 115 countries.
Malcolm McRoberts, Chief Executive Officer of Mood Media, said, “PlayNetwork’s customer-focused approach and global, blue-chip clientele is a terrific fit with Mood Media’s existing business, and further enhances our efforts to expand our product offerings and technology solutions. We look forward to integrating the PlayNetwork team into the Mood family - continuing to deliver top-tier consumer connection solutions for our customers.”
“This is an exciting outcome for PlayNetwork, and we thank the entire team for their tremendous contributions and partnership,” said Ross Honey, President and CEO of Octave Group. “Mood Media shares PlayNetwork’s commitment to innovation and ensuring the long-term success of our customers and valued employees. The full resources of Mood Media will best position the company to take the next steps in its evolution and deliver the unparalleled execution and collaboration PlayNetwork customers rely on.”
Paul Hastings LLP served as legal counsel to Mood Media on the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel and LionTree Advisors served as exclusive financial advisors to Octave Group.
About Mood Media
Mood Media is the world’s leading in-store media solutions company dedicated to elevating the Customer Experience. We create greater emotional connections between brands and consumers through the right combination of sight, sound, scent, social and systems solutions. We reach more than 150 million consumers each day through more than 500,000 subscriber locations in 100+ countries around the globe. Mood’s customers include businesses of all sizes and market sectors, from the world’s most recognized retailers and hotels to quick-service restaurants, local banks and thousands of small businesses. For more details: www.moodmedia.com.
PlayNetwork helps brands use music and entertainment media to enhance customer experience, in-store and beyond. These experiences add emotional interaction points that increase engagement with consumers and influence lifetime value. Clients work with PlayNetwork for custom music and media supervision, audio/visual systems engineering and installation, branded entertainment campaigns, technology and software development, global music and content licensing, original video and motion graphics, in-store and on-hold messaging, advertising networks, and more. We partner with over 400 brands across more than 100,000 locations in 115 countries, reaching more than 100 million people every day. For more information, visit www.playnetwork.com.
About Vector Capital
Vector Capital is a San Francisco-based leading global private equity firm focused on transformative investments in technology and technology-enabled businesses. Founded in 1997, Vector oversees approximately $4 billion of capital across its private equity and credit strategies from a variety of investors including university endowments, foundations, and financial institutions. Vector exclusively focuses on investments within the technology sector and has built a successful track record of executing buyouts, carve-outs, recapitalizations, minority, and credit investments. With our disciplined approach to valuation and deep-rooted operational experience, Vector has generated competitive returns and established a successful track record spanning 24 years. More information is available at https://www.vectorcapital.com.