Vector Capital to Take Over Mood Media
Martech Outlook | Friday, December 18, 2020
Under the terms of the arrangement, Vector Capital will make a substantial equity investment in Mood Media.
FREMONT, CA: Vector Capital, a global private equity firm focusing on transformational investment in existing technology companies, announced that it has entered into a final agreement to acquire Mood Media, one of the world’s leading in-store media solutions company committed to growing customer experience. Under the terms of the arrangement, Vector Capital will make a substantial equity investment in Mood Media. Current lenders, including investment funds and accounts operated by HPS Investment Partners will continue to support Mood Media with a new credit facility.
“Vector Capital has a long track record of building and growing global technology businesses,” said David Hoodis, CEO, Mood Media. “We are eager to leverage their industry expertise and deep operating capabilities as we continue to enhance our product offerings to assist leading brands in connecting with customers. I believe, with the great Mood team and Vectors support, our best days are ahead.”
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Austin-based Mood Media provides global retail, apparel, restaurant, healthcare, hospitality, and consumer products audio, visual, messaging, fragrance, social, and mobile content designed to create more significant emotional links between brands and customers. The business serves more than 150 million customers every day across more than 500,000 subscribers in more than 100 countries worldwide.
“We are excited to partner with Mood Media, which has developed a global, market-leading presence and proven ability to enhance the customer experience for the most demanding customers across the retail, fashion, restaurant, hospitality, and healthcare sectors,” said David Fishman, Managing Director, Vector Capital. “We are confident that our long-term capital support will enable Mood Media to invest in the technology initiatives and acquisitions that will further differentiate Mood and accelerate our product vision.”
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“Mood Media has an impressive management team and a motivated employee base to support its global platform, broad blue-chip client base, and strong business model,” added Sandy Gill, Principal, Vector Capital. “We look forward to partnering with Mood Media during its next stage of growth and helping the companys leadership team accelerate its development through both organic initiatives and strategic acquisitions.”
The deal is subject to the standard and customary closing conditions and is scheduled to be completed in the fourth quarter of 2020. Paul Hastings LLP was the legal counsel for Vector Capital on the deal. PJ SOLOMON acted as a financial advisor, and Milbank LLP served as legal counsel to Mood Media.
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