Ymagis Group Concludes Acquisition of Italian Open Sky’s Theatrical Content Delivery Activities
Ymagis Group (ISIN: FR0011471291, TICKER: MAGIS, PEA-PME-eligible), the European specialist in digital technologies for the cinema industry, today announced the conclusion of its acquisition of OpenSky’s theatrical content delivery activities dedicated to cinema exhibition (“OpenSky Cinema”) in accordance with the agreement signed 30 November 2016.
All related business assets have been incorporated into a new entity named Open Sky Cinema SRL (Vicenza), which oversees the Ymagis Group’s portfolio of content services activities in Italy.
Created in 2006, Open Sky SRL’s cinema business unit successfully oversaw the first live event transmissions to Italian cinemas in 2008. Two years later, they initiated the first electronic DCP deliveries. A pioneer in digital services for exhibitors, Open Sky Cinema today boasts a network of 650 connected cinema sites in Italy and delivers 400 feature-length films per year.
“We are delighted to have successfully concluded this agreement, which marks a milestone in the development of our business activities in Italy, and particularly in terms of theatrical content delivery,” said Jean Mizrahi, founder, chairman and CEO of Ymagis Group. “With our unique European satellite platform and dynamic & reactive local teams, we will be able to use our combined synergies to reach our profitability objectives in this activity.”