MINNEAPOLIS, MN--(Marketwired - Apr 11, 2013) - Wireless Ronin Technologies, Inc. (
Under the terms of the agreement, Wireless Ronin granted Delphi an exclusive license to use and sublicense its RoninCast® 4.0 HTML5-based software in the QSR and pump topper target markets. Delphi will market and sell the end-to-end customer engagement solutions exclusively to the QSR and pump topper markets as part of its Insight Engage™ technology platform. In consideration for the exclusive license, Delphi will pay Wireless Ronin a minimum of $2.0 million over five years, $750,000 of which to be paid within two days following execution. Delphi will use Wireless Ronin's 24/7 network operations center exclusively to host Delphi's digital signage applications, which will provide Wireless Ronin recurring hosting and maintenance revenue over the next five years. Wireless Ronin and Delphi have also mutually agreed to not compete with each other within and outside the target markets. Each party has agreed to refer prospective customer opportunities outside its own exclusive markets to each other to leverage the relationship.
Delphi intends to integrate Wireless Ronin's latest RoninCast® software technology with Delphi's Insight Engage™ drive-through technology platform to provide a full service, end-to-end customer engagement solution in the QSR and pump topper markets. The solution will be designed to address the needs of Delphi's global installation base of more than 30,000 customers, including large franchisees of major QSRs, as well as Wireless Ronin's current pipeline of potential customers in the QSR target market.
The fully-integrated solution will include interior and exterior digital menu boards, order confirmation, wireless communication systems and timing systems, along with cloud-based software to manage these functions and deliver performance metrics.
Wireless Ronin will provide content management and delivery, enterprise-wide real-time data aggregation, analytics and reporting, as well as integration with point of sale (POS), mobile devices, social media, and customer loyalty programs. Delphi also provides integrations with virtually every common POS platform as a key part of its business.
"This agreement marks a major strategic shift for Delphi, as we transition from an outdoor digital signage hardware provider to a world-class enterprise solutions company focused on delivering high-value, tightly-integrated hardware and software solutions to the QSR and pump topper markets," said Ken Neeld, president and CEO of Delphi Display Systems. "We evaluated many software technologies and chose Wireless Ronin because of the robust capabilities of their well-architected platform that leverages the latest HTML5 technologies. We also share a similar vision for engaging our end-customers with a true omni-channel experience."
Scott W. Koller, president and CEO of Wireless Ronin, commented: "The combination of Delphi's expertise, products and services with our RoninCast software and network operations center, provides the QSR and pump topper industries a comprehensive technology solution specifically designed to address their digital signage and menu board requirements.
"This relationship not only makes a comprehensive solution available to Delphi's existing customer base and pipeline, but also generates recurring revenue from hosting and maintenance," added Koller. "Further, it allows us to leverage Delphi's extensive sales and marketing efforts, enabling Wireless Ronin to focus our resources on our growing pipeline of opportunities in the automotive, retail, food service, and fast casual markets."
About Delphi Display Systems Delphi Display Systems, Inc. designs and manufactures a wide variety of outdoor digital signage products and business analytics software solutions serving the quick service restaurant (QSR), petroleum, retail, and other market verticals. Applications include drive-thru order confirmation systems, vehicle timing solutions, digital menu boards, gas-pump top video displays, outdoor interactive way-finding systems and more. Delphi's has its products installed in more than 30,000 QSR locations in 49 countries. Follow the company on Twitter ( https://twitter.com/DelphiDisplay ) and "like us" on Facebook under Delphi Display Systems. For more information on the company and its products, visit www.DelphiDisplay.com or call 714-825-3400.
About Wireless Ronin Technologies, Inc.
Wireless Ronin Technologies, Inc. (WRT) (
Forward-Looking Statements This release contains certain forward-looking statements of expected future developments, as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management's expectations regarding the license and service agreement with Delphi and are based on currently available data; however, actual results are subject to future risks and uncertainties, which could materially affect actual performance. Risks and uncertainties that could affect such performance include, but are not limited to, the following: estimates of future expenses, revenue and profitability; the pace at which the company completes installations and recognizes revenue; trends affecting financial condition and results of operations; ability to convert proposals into customer orders; the ability of customers to pay for products and services; the revenue recognition impact of changing customer requirements; customer cancellations; the availability and terms of additional capital; ability to develop new products; dependence on key suppliers, manufacturers and strategic partners; industry trends and the competitive environment; and the impact of losing one or more senior executives or failing to attract additional key personnel. These and other risk factors are discussed in detail in the risk factors section of the company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2013.
Company Contact: Scott W. Koller President and Chief Executive Officer Wireless Ronin Technologies, Inc. 952-564-3500 Investor Relations Contact: Matt Glover or Michael Koehler Liolios Group, Inc. Email Contact 949-574-3860
