(ISIN : FR0011471291, MNEMO : MAGIS), the
European specialist in digital technologies for the cinema industry, today
announced it has reached an agreement with Smartjog, a subsidiary of TDF Group,
for the acquisition of the remaining shares (40%) of their joint venture,
Smartjog Ymagis Logistics (“SYL”).
to this buy-out operation, YMAGIS now has full ownership (100%) of SYL. As a
reminder, SYL was founded on 1 December 2013 to offer cinema industry
professionals integrated solutions to meet their content delivery needs
(theatrical releases, second-run and classic films, trailers and cinema ads).
For TDF, this operation confirms its withdrawal of any digital cinema
businesses initiated the day SYL was formed.
operation will allow YMAGIS to integrate similar existing activities in two
other Group subsidiaries (dcinex SA and Eclair Media SAS) in a more efficient
manner. It will help YMAGIS to produce additional synergies and lead joint business
initiatives expected in 2016 with DSAT Cinema (“DSAT”), in which the Group indirectly
has a 49.8% stake. DSAT is known for its electronic content delivery services
for feature films and alternative content (e.g. live events). It is already the
object of a global agreement between YMAGIS and Eutelsat Group as announced 24
June 2015. The latter currently owns 50.2% of DSAT.
Mizrahi, YMAGIS President and CEO, says, “This
transaction is in line with our strategy to become the undisputed leader in digital
content delivery across Europe. Investments made by the Group in recent
months, including the modernization of its transmission network operated by SYL,
should produce positive effects in a short-term perspective and enable the Group
to accelerate its deployment in that field. The buy-out of the remaining shares
of SYL allows us more flexibility to nurture this business on a daily basis and
to conclude strategic agreements for the
growth of this company.”