Dayton-based Stratacache is expanding into the lottery and casino markets with the purchase of Carmanah Signs, a Canadian digital sign firm that has delivered more than 100,000 jackpot digital signs worldwide, company officials said Tuesday.
Officials said the acquisition significantly expands Stratacache’s presence in the gaming industry. Terms of the deal were not disclosed.
Stratacache’s new division will continue to operate under Cameron Waldie, Carmanah’s chief executive, and the company’s current management team will remain in place, officials said.
“We have a lean, effective team,” Waldie said. “This purchase is about selling more products and services to our existing lottery and casino customers, so we expect to add staff in a measured way over the next year or two.”
Carmanah specializes in window and counter-top digital signs for the lottery industry. The company also provides “table limit” signs for the casino sector. The signs feature LED (light-emitting diode) and LCD (liquid crystal display) elements that can be easily updated, sometimes wirelessly, Waldie said.
“Carmanah has had a lot of success with our updateable sign products to the gaming industry, and Stratacache’s digital products and direction match what we will need to serve our customers in the years to come,” he said.
Carmanah markets its products to the U.S., Canada, Europe, Latin America and South Africa, along with parts of Asia.
Waldie said he approached Stratacache as a possible buyer after Carmanah’s previous owner decided to sell the business for investment purposes.
Stratacache is a privately held digital sign and marketing technology company headquartered at 2 Riverplace in Dayton. The company sells marketing products that include computer-controlled signs and menus for McDonald’s restaurants and sports arenas. Its products also include content distribution and video acceleration technologies for retailers and brands.
Stratacache in July purchased twin office buildings on Poe Avenue in Vandalia to serve as its expanding operations, support and sales centers. The company said it anticipates hiring up to 100 new employees over the next three years to work in the new buildings, located at 6500 and 6520 Poe Avenue.
We were the first local news organization to bring you news of this acquisition. Count on us for complete coverage of local business.