Daktronics Acquires Hoffend & Sons rigging systems

Daktronics Inc, announced the acquisition of substantially all the operating
assets of Hoffend & Sons Inc., of Victor,
N.Y. Hoffend & Sons, designers
and manufacturers of theatre and arena rigging systems and scoreboard hoist

The purchase of the operating assets, which includes the patented Vortek technology, further strengthens Daktronics
position in the sports industry with the most complete, integrated video,
scoring and display systems. It also brings to Daktronics the ability to expand
its product offering to existing customers, with a sophisticated rigging system
for theaters, auditoriums and athletic venues.

Hoffend & Sons recently introduced its patented Vortek
theatre rigging system, developed specifically to replace commonly used
counterweight rigging systems, which were originally developed more than a
century ago. The Vortek system is a complete, ceiling-to-floor
system, including the hoist unit, blocks and battens, and automated control
center. The Vortek system provides greater safety by
eliminating the need for crews to climb ladders and catwalks as well as
eliminating the need to handle heavy counterweights above the stage. It also
allows for much quicker scene changes, takes significantly less space than
traditional counterweight systems, and reduces construction costs for new

Daktronics has worked with the Hoffend team and
their products for nearly a decade, primarily on sports projects that required
robust and safe scoreboard hoist systems, said Jim
Morgan, President and CEO of Daktronics Inc. Our
sports customers have for many years demanded Hoffend hoist systems to
complement our center hung scoring and video systems. Hoffend hoist systems
include the latest technologies with sophisticated safety features.

In addition to the benefits to us from the
purchase of an important supplier, we expect significant growth in sales of the
Vortek theatre rigging technology to our existing customers, which we expect
will include many elementary, middle and high schools, as well as high profile
theatre venues where we currently supply displays for outdoor marquee signs and
displays for other locations.

We like the sophisticated design of the Vortek
system, the proprietary patented technology, and the ease of installation and
operation, which we believe will make the Vortek system the preferred solution
for theater rigging. We are looking forward to working with the Hoffend team to
grow the business. The business will continue to be based in Victor,
New York, near Rochester, Morgan

We ve known and worked
with Daktronics for a number of years, and are pleased to be able to join an
industry leader with a great reputation, said Peter
Hoffend, President of Hoffend & Sons.

With Daktronics engineering foundation, financial
strength, marketing experience, and management backing, we are well positioned
to market and deliver our new Vortek technology to the theater industry, said Scott Seeman, Chief Operating Officer of Hoffend
& Sons.

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