Clare family sells signage firm Data Display to rival
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".