Press Release Paris (France) and Dallas (TX, USA) - 12 April 2017, 05:45 pm
Ymagis Group to Launch CinemaNext North America with Texas-based Partner CinTech
Paris (France) and Dallas (TX, USA) - 12 April 2017 / Ymagis Group (ISIN: FR0011471291, TICKER: MAGIS, PEA-PME-eligible), the European specialist in digital technologies for the cinema industry, announced today that it has agreed with Dallas-based CinTech® LLC. to form a new, full-service exhibitor services company in North America. Under the terms of the agreement and subject to the fulfillment of conditions precedent, a new company, CinemaNext North America, will be created with Ymagis Group acquiring a 75% stake and CinTech the remaining 25%. CinemaNext North America will be managed by industry veteran Stan Hays. Both parties intend to start operations during Q2.
Specialized in cinema installations and the maintenance of digital cinema equipment, CinTech was founded by Stan Hays in the Dallas (Texas) suburb of Rockwall in 2009. From 2010 to 2013, CinTech Services provided digital system services for the cinema and signage industries, and successfully executed over 3,500 digital cinema projection system conversions. The company also acts as a subcontractor to major cinema technology manufacturers for integration, maintenance and network operations center ("NOC") services.
"Through this new partnership, we are moving forward with our Perform2020 strategic plan to provide North American customers the same level of integrated solutions we offer their European counterparts through CinemaNext," explains Jean Mizrahi, Founder, President and CEO of Ymagis Group. "Stan Hays and his company have been important actors in the successful digital roll-out in the US and enjoy an excellent reputation founded on quality and reliability. With our shared understanding of professionalism and innovation, it is the perfect choice for our North American operations. Additionally, it will help grow our US footprint alongside Eclair's New York office, which is dedicated to theatrical delivery operations."
"We are thrilled to join Ymagis Group's cinema exhibition services to form a new US-based entity," comments CinTech founder Stan Hays. "In recent years, we were able to satisfy our cinema exhibitor clients by offering high quality services and paving the path to digitalization. As VPF models in North America come to an end and new technologies such as HDR, laser projection, digital signage, immersive sound and new service concepts are coming to the fore, it's the right time for us to take this step. This new venture with CinemaNext will strengthen the range of products & services we can offer the market, particularly in a fast-evolving business environment." "With his over 20 years' experience in project management and massive roll-out projects for giant exhibition chains, including Carmike, Regal and AMC, our new venture will greatly benefit from Stan Hays' extensive skills and in-depth market knowledge," explains Till Cussmann, Vice President of CinemaNext. "The development of our North American activities is a top priority for the Group. Our innovative software & hardware solutions with efficient, quality-driven processes will prove to be a very interesting alternative offer for cinema operators in North America. It is ultimately our goal to offer North American customers our recent market innovations, including those we recently demonstrated at CinemaCon such as EclairColor HDR technology, Sphera Premium Format Cinema, boothless projection technology and EclairPlay, a new content platform connecting exhibitors with content owners."
Always on the forefront of new technologies to support customers and improve operational efficiency, CinemaNext North America intends to establish a new customer service center in Dallas, from which it will bring the Group's proven software solutions, including the Melody TMS ("Theatre Management System"), monitoring tools and customer portal solutions, to the North American market as well as unique products and concepts that forged its success in Europe.
Sphera, EclairColor and EclairPlay are registered trademarks of Ymagis Group. CinTech is a registered trademark of CinTech Services LLC.
Next Release: First-quarter 2017 Revenues - 17 May 2017
| ABOUT YMAGIS GROUP Ymagis is a European leader in advanced digital technology services for the cinema industry. Founded in 2007, the Group is headquartered in Paris and has offices in 23 countries with close to 770 employees. Our core business is structured around three main units: CinemaNext (exhibitor services: sales and field services, software solutions, customer service/NOC and consulting), Eclair (content services: post-production, theatrical delivery, digital distribution, versioning and accessibility, restoration and preservation) and Ymagis (financial services). For more information, please connect to www.ymagis.com , www.cinemanext.digital or www.eclair.digital ABOUT CINTECH CinTech is a U.S. provider of integration, maintenance and NOC services for the cinema industry. Founded in 2009, CinTech is located in the Dallas metro area and has remote technicians and support staff throughout the nation. CinTech is responsible for successfully converting one-third of the nation's digital cinema systems by focusing on providing only the finest and most knowledgeable technicians in the industry. For more information, please connect to www.cintechservices.com | YMAGIS GROUP Rémi Gerard, CFO Tel.: +33 (0)1 75 44 88 88 investors@ymagis.com CALYPTUS Sophie Boulila / Mathieu Calleux ymagis@calyptus.net Tel.: +33 (0)1 53 65 68 62 |
