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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 News:
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Feb 15, 2018 CinemaNext and Ezcaray International Reach Global Cinema Seating Distribution Agreement
Jan 17, 2018 Eclair and German Independent Film Distributors Organization AG Verleih Conclude Three-Year Content e-Delivery Agreement
Jan 15, 2018 Ymagis Group Announces EclairColor HDR License Program for Content Labs and Cinema Integrators
Jan 10, 2018 Ymagis Group Announces Bpifrance Support for EclairColor Deployment in North America
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Oct 17, 2017 Eclair, Cines Verdi and Diamond Films España Premiere "Cold Skin” Directed by Xavier Gens in EclairColor HDR in Spain
Oct 6, 2017 Hackesche Höfe Kino in Berlin to Become the First Cinema Complex Fully-Equipped with EclairColor HDR Technology
Sep 25, 2017 Ymagis Group Installs its One Hundredth Eclaircolor Screen, the First in the United States
Sep 21, 2017 Ymagis Group Announces Agreement with Nordisk Film Cinemas for Field & Customer Services at 21 Cinema Locations
Sep 13, 2017 Revolutionary EclairColor HDR Cinema Technology To Take Center Stage at 72nd Annual Congrès de la Fédération Nationale des Cinémas Français
Sep 6, 2017 Ymagis Group Announces Agreement with Village Cinemas for Sphera Premium Cinema in Athens
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
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