Ymagis Group (ISIN: FR0011471291, TICKER: MAGIS, PEA-PME-eligible), the European specialist in digital technologies for the cinema industry, today announced its acquisition of Eutelsat’s 50.2% stake in DSAT Cinema.
Pursuant to the terms of the 2015 agreement, Eutelsat has exercised its option to sell its 50.2% stake in DSAT Cinema to Ymagis Group, which is now the sole shareholder. DSAT’s earnings will be consolidated in the Group’s accounts as of 1st November 2016.
In June 2015, Ymagis Group and Eutelsat reached a strategic agreement to strengthen their joint business initiatives and offer a common global solution by combining their content delivery networks. At the time of the signing of the agreement, the Group, through its subsidiary Dcinex, and Eutelsat respectively held a 49.8% and 50.2% stake in DSAT Cinema.
DSAT Cinema reported €3.9M in revenue for the 2015-2016 fiscal year ended 30 June 2016.
“I am delighted that we have completed our acquisition of DSAT Cinema, which marks an important step in our market consolidation strategy,” said Ymagis Group CEO & Chairman Jean Mizrahi. “The integration of the various delivery platforms has allowed us on one hand to become the undisputed leader in digital content delivery across Europe with over 3,300 connected cinemas and, on the other, to take full advantage of the various synergies to reach our profit target.”