Ballantyne Strong Acquires Digital Ignition Building
Updated: May 18, 2022
Charlotte, NC, Feb. 03, 2022 (GLOBE NEWSWIRE) -- Ballantyne Strong, Inc. (NYSE American: BTN) (the “Company” or “Ballantyne Strong”) today announced that it has acquired the land and building at 190 Bluegrass Valley Parkway, in Alpharetta, Georgia, home to its Digital Ignition technology incubator.
The 43,000+ square foot building and 11+ acres of land is located approximately 15 minutes north of Atlanta, in the heart of the Georgia 400 Technology Corridor. Alpharetta is growing rapidly, attracting new technology companies, and expanding retail, office and residential development, including the luxury Halcyon complex less than half a mile from Digital Ignition. A new access road currently under construction will connect Highway 400 and McFarland Parkway, which will increase visibility and improve commuter access to the property.
“We are excited to have the opportunity to strategically acquire the real estate that houses our growing Digital Ignition technology incubator,” commented Mark Roberson, Chief Executive Officer of Ballantyne Strong. “Alpharetta is a vibrant area, and the building’s location close to Highway 400 as well as its proximity to the Halcyon development make it appealing to existing and potential tenants. We project that this acquisition will also serve to reduce our operating expenses and provide potential appreciation. We look forward to continuing to expand our presence in Alpharetta and supporting the greater Atlanta entrepreneurial community.”
About Ballantyne Strong, Inc.
Ballantyne Strong, Inc. (www.ballantynestrong.com) is a diversified holding company with operations and holdings across a broad range of industries. The Company’s Strong Entertainment segment includes the largest premium screen supplier in the U.S. and also provides technical support services and other related products and services to the cinema exhibition industry, theme parks and other entertainment-related markets. Ballantyne Strong holds a $13 million preferred stake along with Google Ventures in privately held Firefly Systems, Inc., which is rolling out a digital mobile advertising network on rideshare and taxi fleets. Finally, the Company holds a 9% ownership position in GreenFirst Forest Products Inc. (TSX: GFP), which has recently completed an investment in a sawmill and related assets, and a 25% ownership position in FG Financial Group, Inc. (Nasdaq: FGF), a reinsurance and investment management holding company focused on opportunistic collateralized and loss capped reinsurance, while allocating capital to SPAC and SPAC sponsor-related businesses.
About Digital Ignition
Digital Ignition, one of the fastest growing technology incubators in the state of Georgia, serves as a business launching pad for 40 rapidly growing companies in the region. Located in Alpharetta, Georgia (often referred to as the fintech capital of the world), Digital Ignition’s 43,000 sq. ft. facility offers flexible and oversized co-working spaces, unique access to Georgia Tech’s ATDC best-in-class incubator services, and community-focused accelerator services that match member companies with area businesses looking to innovate.
Digital Ignition also serves as the official incubator of Forward Forsyth (a partnership between the local chamber and the development authority dedicated to driving economic growth to the region). It also serves as a community partner to the American Red Cross and was home of Georgia Department of Transportation’s first hack-a-thon to support their innovative smart city and traffic light technology efforts.
For more information or to schedule a tour, please visit www.digitalignition.com.