13/02/2003

European deals with a transaction value of more than €1m announced or completed before February 4, 2003

European deals with a transaction value of more than €1m announced or completed before February 4, 2003

Screen Network, a developer of plasma-screen technology, has secured £500,000 in funding, led by early-stage investor The Summit Group. It has invested alongside Summit Alpha, an investment company it manages and business angel Jim Walsh. The company, which was set up in October 2001, makes and manages large plasma television screens in shopping centres and provides content from them. The screens will show local and national advertising, as well as news and traffic information. Kit Hunter Gordon of the Summit Group said that the technology is well established, but claims it has not been packaged for shopping centres before. It has just completed a pilot scheme in White Rose, a shopping centre in Leeds. This round of funding will enable the company to roll-out in other centres. Hunter Gordon said the company fulfils a demand in the advertising industry for “recency” – marketing jargon for getting advertising close to the point-of-sale. He claims the company has no direct competitors in the UK.

Real Deals, 13th February 2003