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.
