Ymagis today announced it has completed its acquisition of Smartjog Ymagis Logistics and now has full ownership of the company. SYL was founded in December 2013 to offer cinema industry professionals integrated solutions to meet their content delivery needs, including theatrical releases, second-run and classic films, trailers and cinema ads.
The acquisition will allow Ymagis to integrate similar existing activities in two subsidiaries – dcinex and Eclair Media – in a more efficient manner.
It will help Ymagis create additional synergies and lead joint business initiatives expected in 2016 with DSAT Cinema, in which the group indirectly has a 49.8 percent stake. DSAT is known for its electronic content delivery services for feature films and alternative content. It is already the object of a global agreement between Ymagis and Eutelsat Group that was announced in June 2015. Eutelsat currently owns 50.2 percent of DSAT.
Jean Mizrahi, Ymagis president and CEO, says, “This transaction is in line with our strategy to become the undisputed leader in digital content delivery across Europe. Investments made by the Group in recent months, including the modernization of its transmission network operated by SYL, should produce positive effects in a short-term perspective and enable the Group to accelerate its deployment in that field. The buy-out of the remaining shares of SYL allows us more flexibility to nurture this business on a daily basis and to conclude strategic agreements for the growth of this company.”