CORRECTION: Ymagis Group Signs Memorandum of Understanding for Acquisition of French Subtitling Company ST'501
Press Release
Paris, 29 April 2016
YMAGIS GROUP SIGNS MEMORANDUM OF UNDERSTANDING FOR ACQUISITION OF FRENCH SUBTITLING COMPANY ST'501
Ymagis Group (ISIN: FR0011471291, TICKER: MAGIS), the European specialist in digital technologies for the cinema industry, today announced the signing of a Memorandum of Understanding for the acquisition of French subtitling company ST'501, which specializes in live broadcast subtitling for the television industry. According to the terms of the agreement and subject to the fulfillment of conditions precedent, Ymagis Group would become the sole shareholder of ST'501.
"Since its founding in 1996, ST'501 has earned an irreproachable reputation in the marketplace and among its clients, including several large broadcasters in France. It has remained consistently innovative, providing as early as 2008 live TV and corporate event broadcast subtitling services," said Jean Mizrahi, Ymagis Group CEO & Chairman. "This partnership would allow us to bolster our current subtitling & accessibility offer and expand operations in our content services business segment."
"Given the complementary nature of our activities, the expected synergies with ST'501 are substantial," added Christophe Lacroix, Ymagis Group's SVP Content Services. "This agreement would strengthen our business offer for TV broadcasters by providing a broader pallet of subtitling services, including closed captioning and sign language interpretation for the deaf and hearing impaired, multilingual subtitling, subtitling for live television broadcast events and live corporate events, and audio description services for the blind and visually impaired."
ST'501 reported revenue of 2.4 million euros in 2015. Located in the southern Paris suburb of Issy-les-Moulineaux, the company has 20 full-time or equivalent employees.
NEXT RELEASE: 11 May 2016, First Quarter 2016 Results
ABOUT YMAGIS GROUP
Founded in 2007 and managed by professionals from the motion picture and high-tech industries, Ymagis Group is a European leader in advanced digital technology services for the cinema industry. Through CinemaNext and Eclair, we provide smart and comprehensive solutions to movie exhibitors, distributors, event cinema, production companies, cinema/TV advertising networks, rights holders, TV/IPTV broadcasters, VOD platform operators and video publishers. Over the years, the Group has significantly grown its portfolio of solutions & services and further developed its geographic footprint in Europe with permanent offices in 20 countries. The company's core business is structured around three main units: CinemaNext (exhibitor services), Eclair (content services) and Ymagis (VPF & financial services). As of 31 December 2015, 9,500 cinema screens have been installed internationally by CinemaNext engineers. 7,000 currently avail of service contracts and 6,400 have been installed under VPF contracts. Eclair is the only provider with a pan-European content delivery service (via broadband or satellite) thanks to its network of 3,300 connected cinema sites. A publicly-traded company listed on Euronext, Ymagis Group is headquartered in Paris (France) and has 675 employees. For more information, please connect to http://www.Ymagis.com , http://www.CinemaNext.digital or http://www.Eclair.digital
Contacts
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YMAGIS
Pierre FLAMANT, Chief Financial Officer Tel: +33 1 79 97 78 67 Email: investisseurs@ymagis.com |
ACTIFIN
Investor Relations: Alexandre COMMEROT Tel: +33 1 56 88 11 11 Email: acommerot@actifin.fr Press relations : Aurélie CHARLES/ Isabelle DRAY Tel : +33 1 56 88 11 11 Email : acharles/idray@actifin.fr |
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: YMAGIS via GlobeNewswire
