In connection with the closing, Malcolm McRoberts, Operating Executive at Vector Capital, has been named Chief Executive Officer. David Hoodis, who previously served as CEO, will continue to support the Company and team on a transitional basis.
“Mood Media is a terrific business with a great history that is poised for success into 2021 and beyond,” said Mr. McRoberts. “As CEO, my focus is on three key areas: deepening our client and channel relationships, expanding ongoing investments in the Company’s global technology platform and delivery capabilities, and bolstering our product offerings through innovation. Having spent the past two years working alongside the Vector Capital team as a Consultant and Operating Executive, I have seen firsthand the value and expertise they bring to their portfolio companies and I am eager to lead Mood Media as CEO.”
“I am proud of what we have accomplished at Mood Media and believe the Company is in good hands under Vector Capital’s stewardship. I look forward to a successful transition and will continue to provide support to our clients and the team during that period,” said Mr. Hoodis.
“Mood Media is well positioned to grow and succeed in today’s environment and we are excited to support the business through its next phase of growth,” said David Fishman, a Managing Director at Vector Capital. “We are confident that our long-term capital support will enable Mood Media to invest in the technology initiatives and acquisitions that will further differentiate Mood and accelerate our product vision. Importantly, we would like to thank David Hoodis for his contributions to the Company and wish him the very best in his future endeavors.”
As an Operating Executive at Vector Capital, Mr. McRoberts led the Mood Media acquisition process alongside Vector’s investment team. He brings more than 30 years of executive-level management, operations, and technology experience to Mood Media, having previously served as President of Deluxe Corp’s (a Fortune 500 company) Small Business Services Division, where he led the transformation and growth of the organization from a US-based provider of primarily checks and forms to an international provider of technology-enabled marketing and business operations solutions. Prior to his position as President, he served as Deluxe’s CIO / CTO and also held various senior executive roles at NCR.
Paul Hastings LLP served as legal counsel to Vector Capital on the transaction. PJ SOLOMON acted as financial advisor, and Milbank LLP served as legal counsel to Mood Media.
About Vector Capital
Vector Capital is a leading global private equity firm specializing in transformational investments in established technology businesses. With more than $3 billion of capital under management, Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of businesses and enhance value for employees, customers, and all stakeholders. For more information, visit http://www.vectorcapital.com.
About Mood Media
Mood Media is the world’s leading in-store media solutions company dedicated to elevating the Customer Experience. We create greater emotional connections between brands and consumers through the right combination of sight, sound, scent, social and systems solutions. We reach more than 150 million consumers each day through more than 500,000 subscriber locations in 100+ countries around the globe. Mood’s clients include businesses of all sizes and market sectors, from the world’s most recognized retailers and hotels to quick-service restaurants, local banks and thousands of small businesses.
Source: Business Wire
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