Daktronics acquires Dodge Electronics
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Brookings, S.D. - Feb. 3, 2005 - Daktronics, Inc. (Nasdaq - DAKT) announced today the acquisition of Dodge Electronics of Topeka, Kansas. Dodge Electronics is a leading designer and manufacturer of high quality audio systems for high school, college and professional sports facilities, and will operate as a division of Daktronics. Terms of the transaction were not disclosed.
Daktronics and Dodge Electronics have worked closely in the sports market on many projects over the years. "Dodge sound systems are used in conjunction with Daktronics scoring and video systems at many of the most prestigious sports venues in the country," said Kirk Simet, national sports system sales manager for Daktronics. "We know first-hand their organization's commitment and ability to provide the best possible sound system for each customer's particular situation. Both visual and audio systems are very important in the success of sports and entertainment facilities. With this acquisition, we can design and build even better integrated systems that make events more enjoyable."
Dodge Electronics' impressive customer list includes more than 60 collegiate venues and other large stadiums and arenas. "We've had the pleasure of working with Daktronics for a long time, and recognize that this partnership makes sense for many different reasons," said Dean Dodge, founder and president of Dodge Electronics. "We look forward to working even more closely with the Daktronics sales, marketing, engineering and manufacturing teams."
The acquisition of Dodge Electronics is not expected to materially add to Daktronics revenues. Daktronics has strong leadership positions in, and is one of the world's largest suppliers of, electronic scoreboards, computer-programmable displays, large screen video displays, sound systems and control systems. The Company excels in the control of large display systems, including those that require integration of complex multiple displays showing real time information, graphics, animation and video. Daktronics designs, manufactures, markets and services display systems for customers around the world in sport, business and transportation applications. For more information, visit the Company's worldwide web site at http://www.daktronics.com, email the Company at sales@daktronics.com, call toll-free 1-800-DAKTRONICS (800-325-8766) in the U.S., or write to the Company at 331 32nd Avenue, P.O. Box 5128, Brookings, SD 57006-5128.
Cautionary Notice: In addition to statements of historical fact, this news release contains forward-looking statements reflecting the Company's expectations or beliefs concerning future events which could materially affect Company performance in the future. The Company cautions that these and similar statements involve risk and uncertainties including changes in economic and market conditions, management of growth, timing and magnitude of future contracts, and other risks noted in the Company's SEC filings which may cause actual results to differ materially. Forward-looking statements are made in the context of information available as of the date stated. The Company undertakes no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
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news release: 02759