Boxlight Announces Acquisition of Interactive Concepts, Leading Distributor of Interactive Technologies in Belgium

Rhea-AI Summary

Boxlight Corporation (Nasdaq: BOXL) has acquired Interactive Concepts, a Belgium-based distributor of AV and IT solutions, for approximately $3.3 million. This acquisition aims to enhance Boxlight's Clevertouch brand presence in Western Europe, where it has seen a 25% year-on-year revenue growth in the Benelux region. Interactive Concepts generated about $6.5 million in revenue in 2020 and is seen as a strategic partner to boost sales in the education sector. The company plans to rebrand Interactive Concepts as Sahara Presentation Systems Europe BV, integrating it with existing operations.

Positive

• Acquisition value of approximately $3.3 million enhances market presence.
• Interactive Concepts generated $6.5 million in revenue in 2020, indicating a strong financial foundation.
• 25% year-on-year revenue growth in the Benelux region bolsters Boxlight's expansion strategy.

Negative

• None.

Boxlight Corporation (Nasdaq: BOXL), a leading provider of interactive touchscreens, software and digital signage solutions, today announced it has acquired Interactive Concepts, a leader in distributed AV and IT solutions to the Belgium market, for a total consideration of approximately $3.3 million in cash, common stock and deferred consideration.

Headquartered in the Belgium, Interactive Concepts is a value-added distributor of AV and IT products with a loyal customer base. Within the last four years, CEO Karel Callens has taken Boxlight’s Clevertouch interactive screen brand to number two within the region with rapid growth plans in place to be the number one provider. For the year ended December 31, 2020, Interactive Concepts generated approximately $6.5 million in revenue and positive earnings.

Boxlight President, Mark Starkey comments, “The acquisition of Interactive Concepts represents an exciting opportunity to expand the footprint of the Clevertouch brand and further extend our distribution network across Western Europe where we’re trading tremendously well. We have seen a 25% year-on-year revenue growth across Benelux (Belgium, Netherlands, Luxembourg), a region that accounts for nearly 6% of the European population. Karel Callens will join Boxlight under the Clevertouch and Sahara Presentation Systems Europe brand and will continue to drive sales in Belgium and Luxembourg, cementing and building on the phenomenal growth we’ve seen over the last several years.”

“Interactive Concepts has been built on distributing leading products, including the range of solutions provided by Clevertouch. We are proud to be the flagship partner of Clevertouch in Belgium and Luxembourg,” comments Karel Callens, CEO of Interactive Concepts. “This acquisition is a natural fit into Boxlight’s Sahara Presentation Systems Europe brand and will enable us as a team to drive accelerated sales growth into Education, where we already have a strong presence, and build on our enterprise plans. By joining the Sahara Presentation Systems Europe team, the current Interactive Concept partners and end user customers will enjoy direct contact with the Clevertouch team and help to influence the new generation of Clevertouch products. We’re committed to providing the same great service and products to all our partners.”

Michael Pope, Chairman and CEO at Boxlight added, “I am pleased to extend a warm welcome to Karel, and I look forward to adding his talents to our sales leadership in the EMEA region. The acquisition of our key distributor in Belgium and Luxembourg was strategic in nature, providing Boxlight greater control over messaging and adoption of our Clevertouch solutions, stronger relationships with our reseller partners and end users, significantly improved profit margins, and a renewed commitment from Karel and his team to Boxlight’s success in the territory. We have renamed Interactive Concepts to Sahara Presentation Systems Europe BV and will continue to operate our distribution business in Europe under the Sahara brand.”

About Boxlight Corporation

Boxlight Corporation (Nasdaq: BOXL) (“Boxlight”) is a leading provider of interactive technology solutions under its award-winning brands Clevertouch^® and Mimio^®. The company aims to improve engagement and communication in diverse business and education environments. Boxlight develops, sells, and services its integrated solution suite including interactive displays, collaboration software, supporting accessories and professional services. For more information about the Boxlight story, visit http://www.boxlight.com and Clevertouch, https://www.clevertouch.com/.

Forward Looking Statements

This press release may contain information about Boxlight's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements because of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to maintain and grow its business, variability of operating results, its development and introduction of new products and services, marketing and other business development initiatives and competition in the industry. Boxlight encourages you to review other factors that may affect its future results in its filings with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210323005635/en/

FAQ

What is the significance of Boxlight's acquisition of Interactive Concepts?

The acquisition allows Boxlight to strengthen its Clevertouch brand in Belgium and Luxembourg, enhancing its distribution network and market control.

How much did Boxlight pay for Interactive Concepts?

Boxlight acquired Interactive Concepts for approximately $3.3 million.

What were Interactive Concepts' revenues in 2020?

Interactive Concepts generated about $6.5 million in revenue for the year ending December 31, 2020.

What impact will this acquisition have on Boxlight's operations?

This acquisition is expected to improve profit margins, enhance relationships with reseller partners, and drive accelerated sales growth.

Who will lead the new Sahara Presentation Systems Europe post-acquisition?

Karel Callens, the current CEO of Interactive Concepts, will join Boxlight to lead sales efforts in Belgium and Luxembourg.