YMAGIS Becomes Sole Shareholder of its Content Delivery Services Subsidiary
YMAGIS (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”).
Thanks 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.
This 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.
Jean 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.”
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