Ymagis Successfully Completes Acquisition of R2D1
YMAGIS (ISIN : FR0011471291, ticker: MAGIS), the European specialist in digital technologies for the motion picture industry, announces the closing of R2D1 acquisition, a specialist in the installation and maintenance of digital cinema equipment in France, Switzerland and Africa.
YMAGIS acquires 80% of R2D1’s capital. The remainder capital is controlled by Maxime Rigaud, cofounder of R2D1, who is appointed Head of Exhibitor Services for France, Switzerland and French-speaking Africa for YMAGIS Group.
In the coming weeks, the business activities of Ymagis Engineering Services (YES) – a wholly-owned subsidiary of Ymagis Group specialized in the installation and maintenance of digital cinema equipment - will be merged with R2D1. Following this operation, YMAGIS Group and Maxime Rigaud will ultimately control 90% and 10% of R2D1, respectively.
R2D1 will be consolidated into YMAGIS accounts as from 1st July 2015.
"We are thrilled to announce this acquisition as part of our strategy to strengthen our European network and to grow our products and services offer to exhibitors," explained YMAGIS CEO and co-Founder Jean Mizrahi. "Our company is primarily known in France for our contribution to the financing of the transition to digital cinema through the VPF(1) model. However, our service activities now represent a significant portion of our annual revenues and profits, and they are expected to increase very quickly in the future.”
"This coming together of our two organizations will allow us to not only expand our services offer but also better meet our movie exhibitor clients’ needs," said Maxime Rigaud, General Manager of R2D1. "We share the same work ethic and values with YMAGIS Group, making this merger a natural fit. I am very pleased and proud to be heading up this new structure."
Founded in 2009 by Maxime Rigaud, Dominique Rigaud and Jacques Damitio, R2D1 is known for its high-quality technical installations in French multiplexes as such Pathé (whose 80 cinemas were equipped with sound systems and 12 with projection systems) as well as in prestigious locations, which include the Centre Georges Pompidou, Quai Branly Museum, Grand Palais and the Seydoux and Louis Vuitton Foundations in Paris. R2D1 is the sole seller of SONY 4K projection systems in France, Switzerland and Africa (120 screens equipped to date). R2D1 is also a leader in the installation of sound equipment, with over 200 theaters now equipped with 7.1 and Dolby Atmos.
In 2014, R2D1 recorded revenue of €2.4m. As at 31 December 2014, the company had a total headcount of 9 people who will be joining YMAGIS team in Montrouge as of today.