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 Issyles-Moulineaux,
the company has 20 full-time or equivalent employees.