Ymagis Group (ISIN: FR0011471291, TICKER: MAGIS), the
European specialist in digital technologies for the motion picture industry, today announced that it has signed
an agreement for the acquisition of a key shareholding in Proyecson SA, a leading Spanish cinema integrator.
The company, specializing in cinema installation and maintenance of digital cinema equipment, is based out of
Valencia and operates various offices and representations across Spain.
Under the terms of the agreement, that remains subject to usual conditions precedent, Ymagis will acquire a
51% stake in Proyecson. Following this operation, Proyecson’s Managing Director, Francisco Lafuenta Serra, will
keep 49% of the share capital and remain the Managing Director of the company.
This new partnership will offer cinema owners an extended range of services based on the experience of both
companies. With this integration Ymagis Group and Proyecson will together provide the same services in Spain
as offered in the rest of Europe by the Ymagis Group, benefiting both from large group synergies and local
proximity to its customers.
“With this new step, Ymagis Group completes its aspiration to provide its full range of services to Spanish cinema
owners. Combining our knowledge and expertise with Proyecson’s team, we believe that we will continue to gain
the trust of many local operators, being able to offer them a complete range of services and products, as we have
been doing in other European territories”, commented YMAGIS CEO and co-Founder Jean Mizrahi.
"Since the beginning of the digital deployment in Spain, we have enjoyed a highly successful professional
relationship with Ymagis and its Spanish team,” explained Francisco Lafuente, Managing Director and owner of
Proyecson. “We are thrilled to become part of Ymagis Group, which will allow us to ensure continuity in the
quality services we have been providing to our clients since my father founded the company in 1957. Our teams
have been collaborating for quite some time now, and we look forward to being able to better serve the Spanish
cinema community for many years to come."
For close to sixty years, Proyecson has manufactured cinema projectors and other equipment for movie
exhibitors. The company has continuously adapted to the latest industry technologies to become a leading
integrator in Spain, and has completed hundreds of digital cinema installations as well as supplied auxiliary
equipment. It has also developed innovative solutions implemented by third-parties internationally. Among its
latest contributions to the cinema industry are its new products such as a silencer box for boothless cinemas
and automation systems.
In 2014, Proyecson stated revenues in excess of EUR 8.3 million.