Emmis Buys Control Of Digonex
June 17, 2014 at 4:00 AM (PT)
EMMIS COMMUNICATIONS CORPORATION has purchased a controlling interest in dynamic pricing company DIGONEX. EMMIS Chief Strategy Officer/President Of EMMIS PUBLISHING GREG LOEWEN will add duties as President/CEO of DIGONEX, while DIGONEX co-founder JAN EGLEN, Ph.D. will remain with the company.
The purchase involves an initial investment from EMMIS, with an additional investment coming "soon to fund expansion of DIGONEX's business contemplated later in the year," according to a press release from EMMIS.
EMMIS Chairman/CEO JEFF SMULYAN said, "We are certain that dynamic pricing is the future of all inventory management. As a company that sells hundreds of millions of dollars in advertising units, we believe that this acquisition will help us find the optimal price for our entire inventory and increase revenue opportunities. We also believe that our operational skills, including our expertise in sales, marketing and finance, will help the DIGONEX team become a leader in this space."
EGLEN said, "We believe we have the best answer in the dynamic pricing market, and are thrilled to partner with EMMIS to leverage their resources and scale our solution to a broader audience. I'm looking forward to working with JEFF, GREG and the EMMIS team."
LOEWEN said, "I'm excited to have the opportunity to work with JAN and the rest of the team at DIGONEX on the next phase of the company's growth and evolution," Loewen said. "We believe that DIGONEX's game-changing technology can help companies across numerous industries achieve superior growth and profitability and that the dynamic pricing space represents a significant growth opportunity for EMMIS."