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Ballantyne Strong, Inc Message Board

  • blueskydriving blueskydriving Nov 12, 2013 2:20 PM Flag

    A quick summary of Convergent Media and Sony

     

    Just because it seems like I'm the only person that is excited about this acquisition on the board, I would like to summarize the recent transaction and what it means for BTN ... it is transformative but yet largely unappreciated ...

    Convergent was acquired by Sony in 2010 for an undisclosed amount (but, I would bet a whole lot more than $16 million) ... at the time Sony said, "it is a key building block of Sony's worldwide business-to-business strategy to accelerate it's transformation to a SOLUTIONS-FOCUSED ORGANIZATION" ... since 2010 Sony has struggled, changed leadership, and changed focus ... although Convergent is a global leader in digital media solutions with over 95,000 displays at 22,000 sites, it has not been a top priority for growth at Sony as they struggled ... today, Sony's new CEO has focused the company on mobile, digital imaging, and its games software/hardware ... in March of 2013, Sony cut 10,000 employees across the company and subsidiaries ... now, let's remember that BTN has reflected the cost of the Convergent Media acquisition ($17.4 million) but none of the assets/liabilities ... it was a fire sale at Sony ... BTN bought Convergent at .4x Sales ... unheard of ... Convergent has a state-of-art NOC and amazing facilities ... the assets will be significant imho

    I added 1,000 shares today ... my timeframe is years away

    This topic is deleted.
 
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