Velocity, A Managed Services Company Announces Acquisition of Impax Media, Inc., Digital Grocery Network To Enhance Its Media Solutions Division
HOLLAND, Ohio, Oct. 15, 2020 /PRNewswire/ -- Velocity, A Managed Services Company that provides network management, connectivity, and telecommunications; along with media solutions in cinema and the retail space, and the Digital Out of Home (DOOH) network, today announced the acquisition of Impax Media, Inc., a grocery store advertising network.
Impax Media is a leading provider of in-store digital signage advertising to shoppers at the checkout aisles within 49 grocery stores in the New York City area. This purchase expands Velocity's media solutions portfolio within the retail sector to provide its customers with a comprehensive suite of managed services to run a digital signage network and advertising solutions.
"COVID-19 has made it very tough for businesses to return to normalcy. However, the grocery sector has never been more of an essential business as shown by the resiliency of the foot traffic during the pandemic. We look forward to continuing to expand our portfolio into the grocery and retail markets, and enable new opportunities and solutions for our customers," said Greg Kiley, Founder and CEO of Velocity.
"Impax Media programing includes grocer messaging, in-store sales, entertainment and advertising. Velocity is partnering with Screenvision Media, a national leader in cinema and premium video advertising, to serve as a strategic seller of Impax's ad inventory. Impax is the latest addition to 'Front + Center Everywhere,' Screenvision's expanding OOH network, that is designed to reach the highly engaged consumer beyond the cinema experience."
"Grocery stores and shoppers have become increasingly more attractive to endemic, as well as national, regional and local advertisers. We are looking forward to working with our Impax retailers and strategically exploring expansion within the grocery sector to enhance the shopper experience and the grocer's revenues," said Joe Ross, EVP of Sales and Marketing of Velocity.
ABOUT VELOCITY
Velocity delivers a streamlined, single-source approach to managed services for over 15 years – continually earning the trust of its growing client base in the retail, hospitality and motion picture industries. With an in-house team of seasoned software development and engineering experts and numerous hardware and software design and utility patents, Velocity offers highly customized, customer-focused and best-in-class solutions, by integrating the latest technologies available into all its product offerings. Through its media solutions division, Velocity manages digital solutions within the cinema and retail, and Digital Out of Home (DOOH) networks, and is a member of the DPAA.
Based in Holland, Ohio, right outside of Toledo, Velocity is a privately held company with approximately 500 employees. The company has 13 redundant data centers, more than 5,500 certified technicians throughout the U.S., and 450 carrier agreements and is a CLEC in all 50 states. Further information can be found at www.velocitymsc.com.
SOURCE Velocity, A Managed Services Company