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.”
