Belfast technology firm DisplayNote has been bought by a Canadian peer for an undisclosed sum.
New owner Toronto-based Volaris said the acquisition – part of its “buy and hold forever” approach - will see it accelerate the firm’s mission to create better connection in meeting rooms and learning spaces across the world.
DisplayNote was formed in Belfast in 2012 and also has offices in Murcia, Spain. It specialises in wireless casting and video transmission technology and has grown sharply since then, helped by the switch to remote meetings during the Covid-19 pandemic.
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Paul Brown, CEO of DisplayNote, welcomed the deal.
“With Volaris, DisplayNote has found a home that shares our vision and helps us continue to support and expand our customer and partner ecosystem, whilst still innovating and growing the DisplayNote team. “
The sale will see early investors such as Kernel Capital and Bank of Ireland exit the business.
“Kernel Capital’s support since their initial investment through the Bank of Ireland Kernel Capital Growth Fund has been a key building-block in DisplayNote’s growth as we expanded our global OEM and enterprise customer base.” Mr Brown said.
Rob Turner, Group Leader at Volaris Group, said the acquisition sets both organisations up for further growth in the future.
“Our decision to acquire DisplayNote was driven by their customer-first approach and culture of innovation, underpinned by industry-leading technology. Their vision of strong long-term customer relationships and industry leading innovation aligns with ours, helping position both Volaris and DisplayNote for continued growth.”