Vista Group International (‘Vista Group’ NZX & ASX: VGL), has signed a renewed and extended agreement with Cineworld Group plc (‘Cineworld’), which following its £2.4bn acquisition of USA-based Regal Entertainment Group (’Regal’) in March 2018, has become the world’s second largest cinema exhibition chain.
The new agreement continues the relationship in the existing Cineworld territories in which Vista is licensed and installed – the UK, Ireland and the USA, and extends the term for five years. Now included are a wider range of Vista Entertainment Solutions (‘Vista Cinema’) products, as well as solutions provided by Vista Group companies - Movio, Numero and movieXchange Showtimes, which considerably expands the portfolio of complementary Vista Group products within the Cineworld super-circuit.
Kimbal Riley, Vista Group Chief Executive, is obviously delighted with the continuation of the long-standing relationship with Cineworld Group. “Vista Group has a unique and compelling suite of offerings for global super-circuits and we’re delighted that Cineworld has renewed our relationship and extended it to include new and exciting Vista products. It is testament to our product, to our people, and to the trust that we have built with Cineworld over a long period of time; these are the foundations of this new contract,” commented Mr Riley.
“Cineworld is a renowned global innovator in the exhibition sector and Vista Group and Cineworld will continue to work collaboratively on a number of initiatives to support and enhance that innovation.”
Cineworld Deputy Chief Executive Officer Israel Greidinger noted, “We have a long-standing relationship with Vista Group; their products and our collaborative engagement have delivered some outstanding innovation and excellent support for our global business. This new agreement will see us continue to build on that into the future.”
About Cineworld Group:
Cineworld Group plc was founded in 1995 and is now one of the leading cinema groups in Europe. Originally a private company, it re-registered as a public company in May 2006 and listed on the London Stock Exchange in May 2007. Currently, Cineworld Group plc is the only quoted UK cinema business.
Cineworld is an international cinema chain operating in ten different territories with 792 sites and 9,542 screens*.
*As at 30 June 2018.
