Sunday 21 December 2014

Clare family sells signage firm Data Display to rival

Gordon Deegan

Published 19/08/2014 | 02:30

Data Display sells signage to underground networks in London, Paris and New York
Data Display sells signage to underground networks in London, Paris and New York

A Co Clare family has sold its electronic display firm to a US rival for an undisclosed sum.

Kevin Neville established Data Display in 1979 and oversaw its growth into one of Europe's largest producers of electronic displays.

The firm - based in the north Clare town of Ennistymon - employs 150 and its signs are used on the New York subway, the Dart, the Paris Metro and the London Underground.

Mr Neville retired from the firm a number of years ago and Data Display is today led by his son Paul and daughter Ann-Marie.

Kevin, Paul and Ann-Marie, along with Sarah and Theresa Neville, are all listed as shareholders.

Data Display Holdings Ltd increased its pre-tax profits more than four-fold to €280,085 despite revenues declining by 10pc to €15.49m in 2012.

Shareholder funds stood at €6.6m.

However, the Nevilles have decided to sell out to Nasdaq-quoted Daktronics - a company that produces large-format LED video displays, message displays and digital billboards.

In the year to the end of April 2014, Daktronics recorded revenues of $551.9m and profits of $22.2m.

Under the agreement, Daktronics will retain Data Display's workforce of experienced sales, service, engineering and manufacturing teams.

Daktronics CEO Reece Kurtenbach said: "We believe Daktronics and Data Display complement each other well. Adding the strengths of Data Display will allow our combined organisations to better serve transportation customers worldwide".

Irish Independent

Promoted articles

Read More

Promoted articles

Editors Choice

Also in Business