Acquisition strengthens Samsung’s entry into LED display market to meet growing market demand
SEOUL - Friday, March 6th 2015 [ME NewsWire]
(BUSINESS WIRE)-- Samsung Electronics Co., Ltd. today announced its acquisition of Logan, Utah-based YESCO Electronics, LLC, a leading LED sign and display manufacturer with more than 2,000 installations across the U.S. and abroad. The acquisition reinforces Samsung’s entry into the LED display market, extending the reach of the company’s pioneering technologies and expertise beyond large-format displays (LFDs) using LCD panels, where the company has been the worldwide market leader for six consecutive years.1
YESCO Electronics was a subsidiary of the Young Electric Sign Company (YESCO), a privately-owned custom sign manufacturer.
“As the market for LED display technology continues to grow, we understood the critical importance of having the right experience to be successful in this area,” said Seog-Gi Kim, Senior Vice President, Visual Display Business, Samsung Electronics. “By combining the extensive expertise of YESCO Electronics in LED displays with our global network, business experience and world-class R&D team, we further validate our leading position and the value that we bring to our customers as a total solutions provider in digital display.”
In light of the accelerated implementation of LED displays that offer enhanced picture quality, energy efficiency and operational functionality, Samsung will work with YESCO Electronics to deliver durable, long-lasting displays geared for varied and extreme conditions. YESCO Electronics’ proven successes include large and brilliant sign and display execution in many of the markets Samsung serves, including retail, education, hospitality, corporate, and transportation environments.
“The solid relationship between Samsung and YESCO will strengthen YESCO’s position in the marketplace,” said John Williams, CEO of YESCO Electronics. “This acquisition expands the presence of our services and systems across Samsung’s vast global network, allowing a wider range of businesses to offer their customers a more impressive, eye-catching visual experience. YESCO Electronics will offer a broader range of world-class products to the customers as part of the Samsung Team.”
Founded in 1988, YESCO Electronics has enjoyed a rich tradition of successfully delivering both large scale and boutique projects worldwide.
To learn more about Samsung Electronics and its complete B2B display portfolio, visit www.samsung.com. For more information about YESCO Electronics, visit www.yescoelectronics.com.
1 Display Search Q3, 2014 Market Reports
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. inspires the world and shapes the future with transformative ideas and technologies, redefining the worlds of TVs, smartphones, wearable devices, tablets, cameras, digital appliances, printers, medical equipment, network systems, and semiconductor and LED solutions. We are also leading in the Internet of Things space through, among others, our Smart Home and Digital Health initiatives. We employ 307,000 people across 84 countries with annual sales of US $196 billion. To discover more, please visit our official website at www.samsung.com and our official blog at global.samsungtomorrow.com.
About YESCO Electronics, LLC
YESCO Electronics, LLC, is a leading manufacturer of high quality electronic displays and is a former division of the Young Electric Sign Company (“YESCO”), which has been a family-run business since 1920. YESCO operates a full service custom sign manufacturing business offering creative design, engineering, leasing, financing, and maintenance agreements. YESCO owns and operates its own network digital of billboards, as well as 1,800 traditional billboard faces in the Western United States. YESCO has a sign and lighting service franchise network throughout North America. YESCO, a 94-year-old family business, will continue to sell and integrate the latest LED technology from Samsung. It will offer a broader range of world-class products to its customers. For more information about YESCO electronics, LLC, visit www.yescoelectronics.com
Samsung Electronics America, Inc.
Allison Galperin, 201-807-3144
Allison+Partners, for Samsung Electronics America, Inc.
Molly Luby, 646-428-0611