MINNEAPOLIS, Aug. 16, 2007 (PRIME NEWSWIRE) -- Wireless Ronin Technologies, Inc. (Nasdaq:RNIN), a Minneapolis-based digital signage solutions provider, today announced that it has completed the acquisition of privately held McGill Digital Solutions, Inc. Based in Windsor, Ontario Canada, McGill is a provider of custom interactive software solutions, used primarily for e-learning and digital signage applications. Wireless Ronin will maintain McGill as a wholly-owned subsidiary in Canada focusing on sales and product development under the name Wireless Ronin Technologies (Canada), Inc.
"This is an exciting opportunity," said Jeffrey Mack, Wireless Ronin's chairman, president and chief executive officer. "The ability to incorporate training and other onsite benefits will be one more way of leveraging our technology for our clients to increase the value added by a RoninCast(r) digital signage network and differentiate our product offering even further. We believe that the completion of this acquisition is great news for our customers, partners and shareholders as it augments our already robust product offering. As a result of this acquisition, we will increase the size of our talented sales and professional services teams, gain entry into new vertical markets such as automotive where McGill systems are currently deployed in 2,400 Chrysler dealerships alone, acquire state-of-the-art technology and add to a solid financial platform, as we believe that this acquisition will be mildly accretive over the next twelve months. We are confident that we have strengthened our business for future success."
About Wireless Ronin Technologies, Inc.
Wireless Ronin Technologies (www.wirelessronin.com) is the developer of RoninCast(r), a complete software solution designed to address the evolving digital signage marketplace. RoninCast(r) provides clients with the ability to manage a digital signage network from one central location. The software suite allows for customized distribution with network management, playlist creation and scheduling, and database integration. An array of services is offered by Wireless Ronin to support RoninCast(r) including consulting, creative development, project management, installation, and training. The company's common stock is traded on the NASDAQ Capital Market under the symbol "RNIN".
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This release contains certain forward-looking statements of expected future developments, as defined in the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this release refer to our expectations regarding the benefits of our acquisition of McGill Digital Solutions and other matters. These forward-looking statements reflect management's expectations and are based on currently available data; however, actual results are subject to future risks and uncertainties, which could materially affect actual performance. Risks and uncertainties that could affect such performance include, but are not limited to, the following: our estimates of future expenses, revenue and profitability; the pace at which we complete installations and recognize revenue; trends affecting our financial condition and results of operations; our ability to convert proposals into customer orders; the ability of our customers to pay for our products and services; the revenue recognition impact of changing customer requirements; customer cancellations; the availability and terms of additional capital; our ability to develop new products; our dependence on key suppliers, manufacturers and strategic partners; industry trends and the competitive environment; the impact of losing one or more senior executives or failing to attract additional key personnel; and our ability to successfully integrate the operations of acquired businesses. These and other risk factors are discussed in detail in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on August 10, 2007.