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Paris, FR—Jan 20, 2017

Ymagis Group Strengthens CinemaNext’s Exhibition Services in Turkey with New Business Partner Omega Cinema Systems

Ymagis Group (ISIN: FR0011471291, TICKER: MAGIS, PEA-PME-eligible), the European specialist in digital technologies for the cinema industry, announced that it has signed a letter of intent with Omega Cinema Systems to form the leading cinema exhibition services company in Turkey.
 
Under the terms of the agreement and subject to the fulfillment of conditions precedent, a new company, CinemaNext TR, will be created with Ymagis Group acquiring a 51% stake and Omega Cinema Systems founders Fikret Gürsoy, Turgay Gürsoy and Serkan Sahin acquiring the remaining 49%. CinemaNext Turkey will be managed by Fikret Gürsoy, Turgay Gürsoy and Serkan Sahin. All parties intend to conclude the deal before the end of February, at which time both Omega’s and CinemaNext’s current portfolio of activities and related cinema assets in Turkey will be transferred to CinemaNext TR.
                                                                      
Founded by Fikret Gürsoy in 1997 and based in Izmit/Kocaeli, near Istanbul, Omega is specialized in cinema installations and the maintenance of digital cinema equipment. Over 650 screens to date have been installed by Omega in Turkey for leading cinema chains, including Mars Cinema Group (CJ/CGV Entertainment), Gazi Cinemas and Avsar Group. 200 Turkish cinema screens also currently have service agreements with Omega for customer service and maintenance. In 2016, Omega reported revenue in excess of EUR 2.8 million.
 
“With this new partnership, Ymagis Group fulfills its objective to provide the same services in Turkey as offered in the rest of Europe by our CinemaNext business unit, while benefiting group synergies and local proximity with clients,” explained Jean Mizrahi, Founder, President and CEO of Ymagis Group. “The Gürsoy family has been active on the Turkish cinema scene for over 50 years now, working successively in cinema exhibition and distribution before becoming the country’s most trusted integrator. They have been instrumental in the digital conversion process in Turkey and we feel honored to be partnering with them in this new venture, which will bring the Group additional growth and recurring revenue.”
 
“We are thrilled to join Ymagis Group’s cinema exhibition services and become their local partner in Turkey,” comments Fikret Gürsoy, Omega’s Managing Director. “For years, we have served Turkish cinema exhibitors by offering them advanced bespoke technological solutions and paving the path to digitalization. This new venture with CinemaNext will strengthen the range of services we can offer our cinema clients, particularly in a fast-evolving business environment.”
 
The European Audiovisual Observatory estimates cinema attendance of over 55 million in 2016 in Turkey, which boasts 2,550 screens. The Turkish motion picture industry is considered one of the most dynamic and important in Central Europe.
 
In June 2015, Ymagis Group announced new VPF agreements under the third-party collector financing model with six major Turkish cinema exhibitor chains representing 409 screens in 50 cinema multiplexes. These VPF agreements are effective through 31 December 2018 and are managed by its current Turkish entity, a wholly-owned subsidiary of Ymagis Group.

About Ymagis Group: The Ymagis Group is a leader in advanced digital technology services for the cinema industry. Through CinemaNext and Eclair, the Group provides innovative solutions to movie exhibitors, distributors (feature films & event cinema), producers, right-holders, cinema/TV advertising networks, rights holders, broadcasters, VOD/S-VOD platform operators and video publishers. Ymagis Group Directory page
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More Ymagis Press Releases: Jul 10, 2017 Ymagis Group Announces Agreement with CineStar for Field and Customer Services at 52 Cinema Locations Jun 21, 2017 CinemaNext Announces Technology Licensing Agreement with Adaptive Technologies Group at CineEurope 2017 Jun 21, 2017 Eclair Announces Theatrical Delivery Agreement with Diagonal for Switzerland at CineEurope 2017 Jun 20, 2017 Ymagis Group Announces EclairColor-compliant Barco Projection Systems at CineEurope 2017 Jun 18, 2017 EclairColor HDR Presentations at CineEurope 2017 Jun 15, 2017 Ymagis Group Completes Agreement to Form CinemaNext North America with Texas-based Partner CinTech May 23, 2017 Eclair Announces Agreement with Gaumont for the Restoration of 100 Feature Films Apr 12, 2017 Ymagis Group to Launch Cinemanext North America with Texas-based Partner Cintech Mar 28, 2017 CinemaNext Signs Agreement with French Cinema Circuit Megarama for 15 Screens Equipped with EclairColor Mar 23, 2017 CinemaNext Equips 25 Screens in Germany with EclairColor HDR Technology for 30 March Release of James Gray’s The Lost City of Z Mar 21, 2017 CinemaNext Announces New Premium Format Cinema Concept Sphera at CinemaCon 2017 Mar 20, 2017 Eclair Announces International Launch of EclairPlay Download Platform Connecting Exhibitors & Content Owners Mar 15, 2017 CinemaNext and Eclair to Present New Revolutionary HDR Solution EclairColor at CinemaCon 2017 in Las Vegas Mar 9, 2017 Eclair and Art House Convergence Announce Strategic Partnership for Specialty Film & Event Cinema Distribution Feb 3, 2017 Ymagis Group Announces Re-Release of Damien Chazelle’s LA LA LAND in EclairColor in Berlin & Nuremberg Jan 23, 2017 Ymagis Group Announces Theatrical Release of Damien Chazelle’s LA LA LAND in EclairColor Jan 13, 2017 Ymagis Group Concludes Acquisition of Italian Open Sky’s Theatrical Content Delivery Activities Jan 10, 2017 CinemaNext Equips Paris’ Pathé Wepler Cinema with EclairColor Technology for 11 January Release of Lisa Azuelos’ “Dalida” Dec 20, 2016 Ymagis Group Expands CinemaNext Activities in Eastern Europe with Belarusian Partner Kraftwerk More
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