RMG Networks

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RMG Networks Holding Corporation

Company type	Private
Industry	Digital signage
Founded	1980
Headquarters	Dallas, Texas , United States
Area served	Worldwide
Key people	Ankur Ahlowalia, CEO Stuart Mitchell, CFO Colm Nee, CTO [1]
Website	www.gokorbyt.com

Korbyt, formerly RMG Networks, Reach Media Group and Danoo, is an American workplace software and digital signage company. It is headquartered in Dallas, Texas, with additional worldwide offices in the United Kingdom and the United Arab Emirates.^[2][3] Its self-titled platform, Korbyt, provides content management, performance dashboards and data visualization for desktops and mobile devices. The company traces its origin back to an early-1980s digital signage company Symon Communications.

Reach Media Group was founded in 2006 as Danoo and received financial backing from Kleiner Perkins Caufield & Byers, DAG Ventures, National CineMedia and Tennenbaum Capital Partners. In July 2009, Danoo acquired IdeaCast.^[4] In August 2009, the company renamed itself RMG Networks^[5] and appointed Garry McGuire to take over as CEO from Aileen Lee.^[6]

In April 2013, the company acquired Symon Communications, a digital signage company founded in 1980, for $45.5 million and moved its headquarters from San Francisco to the Dallas metropolitan area where Symon Communications was located.^[7] The company went public via a reverse merger with SCG Financial Acquisition Corp. in April 2013 and re-listed on NASDAQ as RMG Networks.^[8][9]

The same month, RMG Networks was named a winner for the Queen’s Award for Enterprise in International Trade 2013, received for three consecutive years of "outstanding export growth", and its representatives attended a celebratory reception at Buckingham Palace for the occasion in July.^[3]

By 2018, RMG was facing challenges as a publicly-traded company. As a result, executive chairman Gregory Sachs and a private equity firm Virgo Capital issued a proposal to take the company private, which sparked an internal dispute and an alternative recapitalization proposal from Hale Capital Partners, Inc. When in August 2018 the latter proposal did not pass, three out of six RMG board members resigned.^[10] Later in 2018, RMG agreed to be acquired by Virgo Capital and Sachs Capital Group, making the company privately-owned.^[11]

On September 23, 2020, RMG announced re-branding to match the name of its core product, Korbyt.^[12]

• Digital signage