MONTREAL — Music service provider Stingray Group announced Wednesday it has acquired one of its affiliates, point-of-sale marketing solutions provider Marketing Sensorial Mexico (MSM).
MSM specializes in digital signage content production, in-store music and the sale or lease of audio and visual equipment. The company is Stingray Business’ current partner for the 1,500 pharmacy locations and 1,500 medical clinics operated by Farmacias del Ahorro in Mexico.
In addition to retail pharmacy, MSM serves customers in a range of other industries (with more than 5,800 locations), including banking and automotive dealerships. Clients include Grupo Financiero Santander Mexico, Scotiabank Mexico and BMW.
Under the terms of the acquisition agreement, Stingray will fully own and operate the business and assets of MSM with the support and direction of the company’s current leadership team.
“Improving the in-store customer experience at every level is Stingray Business’ mission,” said Eric Boyko, president and CEO of Stingray, in the news release. “The acquisition of the MSM business adds an important building block to our offering while adding new prestigious brands to our already impressive client portfolio… I am confident that with the continued support of MSM’s leadership team, we will reaffirm Stingray Business as the leading provider of state-of-the-art digital media solutions.”
