Vsblty deploys cooler screens in NBA arena, agrees to acquire Shelf Nine
Retail security company Vsblty has announced that its digital cooler screens will be placed in a major sports arena. It also announced it entered a purchase agreement with the digital media and content network Shelf Nine.
Deploying digital cooler screen in NBA arena
Vsblty has announced it will deploy its digital cooler screen in a major sports arena for the current NBA season.
Vsblty’s panels are placed on the inside of any size cooler doors. The screen displays graphics and uses computer vision to perform real-time analytics to confirm how long viewers are watching the messages displayed along with demographic information including age and gender that can be used to inform brands and retailers on marketing effectiveness. The data is completely anonymized, the release states.
The screen can display messages in opaque, translucent, and transparent so shoppers can still see what is inside the cooler. Brands deploy the digital cooler screens through a monthly service fee model.
Agrees to acquire Shelf Nine
The company also announced that it has entered a definitive purchase agreement as of October 19, 2023 to acquire Shelf Nine, a digital media and content network with over 4500 screens displaying digital in-store advertising throughout the US.
Upon closing, Vsblty will issue a total of 12,500,000 shares valued at $500,000 to the owners of Shelf Nine. The agreement notes that 1,250,000 of the shares will be held in escrow for a 15 month period after closing and that the sellers can earn up to an additional $3,890,000 worth of shares if they reach revenue milestone over a three year period, starting July, 2023 and ending in June, 2026. The transaction is expected to close by the end of October, 2023.
Retail media networks are an essential part of Vsblty’s store-as-a-medium business model, as reflected in Vsblty’s other partnerships. The company signed an agreement earlier in the month with conglomerate Lulu Group International to roll out displays in over 200 locations. It also announced record third quarter media sales with its partner Winkel Media.