RMG Networks, formerly Symon Communications, is a digital signage company headquartered in
Texas
Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2 ...
.
RMG is headquartered in
Dallas
Dallas () is the List of municipalities in Texas, third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the List of metropolitan statistical areas, fourth-largest metropolitan area in the United States at 7.5 ...
with offices in the
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...
and
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...
.
History
1980 – 2013 Early Symon Years
Reach Media Group was founded in 2006 as Danoo and received financial backing from
Kleiner Perkins Caufield & Byers
Kleiner Perkins, formerly Kleiner Perkins Caufield & Byers (KPCB), is an American venture capital firm which specializes in investing in incubation, early stage and growth companies. Since its founding in 1972, the firm has backed entrepreneurs ...
,
DAG Ventures
DAG Ventures is an American venture capital firm based in Palo Alto, California. DAG Ventures works with startups in providing early stage and growth stage funding. Since its founding in 2004, by Tom Goodrich and John Cadeddu, the firm has backed ...
,
National CineMedia
National CineMedia (NCM) is an American cinema advertising company. NCM displays ads to U.S. consumers in movie theaters, online and through mobile technology. NCM presents cinema advertising across a digital in-theater network, consisting of the ...
and Tennenbaum Capital Partners. In July 2009, Danoo acquired IdeaCast. In August 2009, the company renamed itself RMG Networks and appointed Garry McGuire to take over as
CEO
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
from
Aileen Lee
Aileen Lee (born 1970) is a U.S. venture capital angel investor and co-founder of Cowboy Ventures.
Lee coined the often-used Silicon Valley term Unicorn (finance), unicorn in a ''TechCrunch'' article "Welcome To The Unicorn Club: Learning from B ...
.
2013 – 2018 Transition to RMG Networks
In April 2013, the company acquired Symon Communications, a digital signage company founded in 1980, for $45.5 million and moved its
headquarters
Headquarters (commonly referred to as HQ) denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the to ...
from
San Francisco
San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...
to the Dallas metropolitan area where Symon Communications was located. The company went public via a
reverse merger
A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public compan ...
with SCG Financial Acquisition Corp. in April 2013.
RMG goes public with reverse merger
San Francisco Business Times, April 8, 2013
References
{{Reflist
Companies based in Dallas
American companies established in 1980