Korbyt
| Company type | Private |
|---|---|
| Industry | Workplace software, Digital signage |
| Founded | 2006 |
| Headquarters | Dallas , United States |
Area served | United States, United Kingdom, United Arab Emirates |
Key people | Ankur Ahlowalia (CEO), Gregory Sachs (Executive Chairman) |
| Products | Korbyt platform (content management, performance tracking dashboards, data visualization) |
Korbyt, previously known as RMG Networks, Reach Media Group, and Danoo, is a U.S.-based enterprise specializing in workplace software and digital signage. Headquartered in Dallas, Texas, the company maintains additional offices in the United Kingdom and the United Arab Emirates. Its flagship Korbyt platform delivers solutions for content management, performance tracking dashboards, and data visualization accessible on both desktop and mobile devices. The company's roots trace back to the digital signage pioneer Symon Communications established in the early 1980s.
2006–2013: Founding and Initial Development
Established in 2006 under the name Danoo, Reach Media Group secured funding from investors including Kleiner Perkins Caufield & Byers, DAG Ventures, National CineMedia, and Tennenbaum Capital Partners. In July 2009, Danoo broadened its consumer reach by acquiring IdeaCast assets, focusing on markets such as fitness centers and airline travelers. The following month, the company rebranded to RMG Networks and appointed Garry McGuire as CEO, succeeding Aileen Lee.
2013–2018: Public Listing and Expansion
RMG Networks entered the public market in April 2013 through a reverse merger with SCG Financial Acquisition Corp., debuting on the Nasdaq at $10 per share. During the same month, it purchased Symon Communications for $45.5 million and shifted its headquarters from San Francisco to the Dallas region. The firm earned the Queen’s Award for Enterprise in International Trade in 2013, recognizing three consecutive years of exceptional export growth, with company officials attending an event at Buckingham Palace.
2018–Present: Privatization and Rebranding
By 2018, RMG Networks encountered difficulties operating as a publicly traded entity. Executive chairman Gregory Sachs alongside Virgo Capital proposed taking the company private, sparking internal conflict when Hale Capital Partners, Inc. presented an alternative recapitalization plan. After Hale’s bid was rejected in August 2018, half of the board members resigned. Subsequently, RMG agreed to be acquired by Virgo Capital and Sachs Capital Group, reverting to private ownership.
In September 2020, Ankur Ahlowalia, a veteran software executive from Silicon Valley, was named CEO. Shortly thereafter, on September 23, RMG Networks adopted the Korbyt name to better reflect its primary product offering.