YMAGIS Group Acquires DSAT Cinema Satellite Content Delivery Network
Press Release
Paris (France) - 2 November 2016, 8:30 am
Ymagis Group Acquires DSAT Cinema
Satellite Content Delivery Network
Ymagis Group (ISIN: FR0011471291, TICKER: MAGIS, PEA-PME-eligible), the European specialist in digital technologies for the cinema industry, today announced its acquisition of Eutelsat's 50.2% stake in DSAT Cinema.
Pursuant to the terms of the 2015 agreement, Eutelsat has exercised its option to sell its 50.2% stake in DSAT Cinema to Ymagis Group, which is now the sole shareholder. DSAT's earnings will be consolidated in the Group's accounts as of 1 st November 2016.
In June 2015, Ymagis Group and Eutelsat reached a strategic agreement to strengthen their joint business initiatives and offer a common global solution by combining their content delivery networks. At the time of the signing of the agreement, the Group, through its subsidiary Dcinex, and Eutelsat respectively held a 49.8% and 50.2% stake in DSAT Cinema.
DSAT Cinema reported €3.9M in revenue for the 2015-2016 fiscal year ended 30 June 2016.
"I am delighted that we have completed our acquisition of DSAT Cinema, which marks an important step in our market consolidation strategy," said Ymagis Group CEO & Chairman Jean Mizrahi. "The integration of the various delivery platforms has allowed us on one hand to become the undisputed leader in digital content delivery across Europe with over 3,300 connected cinemas and, on the other, to take full advantage of the various synergies to reach our profit target."
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About Ymagis Group
Ymagis is a European leader in advanced digital technology services for the cinema industry. Founded in 2007, the Group is headquartered in Paris and has offices in 23 countries with nearly 700 employees. Our core business is structured around three main units: CinemaNext (exhibitor services: sales and field services, software solutions, customer service/NOC and consulting), Eclair (content services: post-production, theatrical delivery, digital distribution, versioning and accessibility, restoration and preservation) and Ymagis (financial services). For more information, please connect to www.ymagis.com , www.cinemanext.digital or www.eclair.digital |
Ymagis Group Pierre Flamant, CFO Tel.: +33 (0)1 75 44 88 88 investisseurs@ymagis.com CALYPTUS Sophie Boulila / Mathieu Calleux ymagis@calyptus.net Tel.: + 33 (0)1 53 65 68 62 |
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: YMAGIS via GlobeNewswire
