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Providence Equity Partners invests Rs2.6bn in UFO Moviez India

It has revolutionized the way films are distributed and exhibited through its technology, infrastructure and unique pay per show business model, bringing in a 'First Day First Show' regime for film distributors and cinema owners.

Providence Equity Partners a leading global private equity firm specializing in equity investments in media, entertainment, communications and information services companies around the world has invested around Rs. 260 crore in a mix of primary and secondary investment in UFO Moviez India Limited. UFO is the world’s largest satellite based Digital Cinema Service with close to 2,500 installations across India and is the only Company in the world delivering MPEG – 4 High Definition content for Digital Cinema via satellite. It has revolutionized the way films are distributed and exhibited through its technology, infrastructure and unique pay per show business model, bringing in a 'First Day First Show' regime for film distributors and cinema owners.

Said Bis Subramanian – Managing Director, Providence Equity Advisors India Private Ltd. “Providence is delighted to partner with UFO Moviez, which is an innovative player in the film distribution and exhibition space in India. This is an exciting opportunity as the Company has pioneered a highly cost effective satellite based High Definition Digital Cinema system for delivering movies and other live content and is making a significant impact in the industry. UFO’s technology and business model are ideally suited for India and other emerging markets. Providence looks forward to a close partnership with the Company and to contributing to its further growth.”

This investment will augment the Company’s growth plans in the Indian and International markets as well as the roll out of its 3D systems in more than 1000 screens in India. UFO has aggressive expansion plans and is targeting 4,000 screens in the next two years. By virtue of this investment, Providence Equity Partners will take a significant minority equity stake in UFO and will be the largest shareholder in the Company. The Indian promoters of the Company, Valuable Group and Apollo International Limited (an affiliate of Apollo Tyres) as well as 3i Group, a leading international private equity fund and an early investor in UFO, will continue to remain significant shareholders.

Commenting on the partnership, Mr. Kapil Agarwal, Jt. Managing Director UFO Moviez, said “We are very excited to initiate our partnership with Providence Equity Partners and look forward to driving the Company to its next phase of growth, where we will continue to provide better and more cost effective business solutions for the entertainment industry. Providence, as the world's leading media and entertainment focused private equity fund is the ideal partner for us in the next phase of growth. 

Our alliance with Providence Equity Partners is an endorsement of our confidence in our unique pay per use business model and our robust technology infrastructure. The Digital Cinema space is growing at a very rapid pace and we are extremely well positioned to ride the wave into a completely digitized scenario. We believe that our highly efficient delivery platform combined with the commercial advantage of our Digital Cinema system will continue to drive digitalization not only in India but the world over.”

UFO has also acquired a strategic stake in Scrabble Entertainment Private Limited, India’s largest DCI compliant Digital Cinema Company. Scrabble has over 250 screens where they have installed the Hollywood Studios mandated DCI certified Digital Cinema systems. This acquisition in Scrabble will further consolidate UFO’s positioning in the Digital Cinema market paving the way for a combined offering which will provide greater flexibility to distributors and exhibitors.

UFO Moviez India is the market leader in India in the Digital Cinema segment. The Company has till date screened almost 7 Million shows all over India and has released over 3,100 movies in 23 languages. It has been using its technology solutions to provide High Definition Digital Cinema experience to Indian audiences and has demonstrated its capability of showing live IPL matches in cinemas across the country, both in 2D as well as 3D formats. UFO has recently launched the UFO Ticketing Platform, an online ticketing system with real time monitoring facilities

It has revolutionized the way films are distributed and exhibited through its technology, infrastructure and unique pay per show business model, bringing in a 'First Day First Show' regime for film distributors and cinema owners.

Providence Equity Partners a leading global private equity firm specializing in equity investments in media, entertainment, communications and information services companies around the world has invested around Rs. 260 crore in a mix of primary and secondary investment in UFO Moviez India Limited. UFO is the world’s largest satellite based Digital Cinema Service with close to 2,500 installations across India and is the only Company in the world delivering MPEG – 4 High Definition content for Digital Cinema via satellite. It has revolutionized the way films are distributed and exhibited through its technology, infrastructure and unique pay per show business model, bringing in a 'First Day First Show' regime for film distributors and cinema owners.

Said Bis Subramanian – Managing Director, Providence Equity Advisors India Private Ltd. “Providence is delighted to partner with UFO Moviez, which is an innovative player in the film distribution and exhibition space in India. This is an exciting opportunity as the Company has pioneered a highly cost effective satellite based High Definition Digital Cinema system for delivering movies and other live content and is making a significant impact in the industry. UFO’s technology and business model are ideally suited for India and other emerging markets. Providence looks forward to a close partnership with the Company and to contributing to its further growth.”

This investment will augment the Company’s growth plans in the Indian and International markets as well as the roll out of its 3D systems in more than 1000 screens in India. UFO has aggressive expansion plans and is targeting 4,000 screens in the next two years. By virtue of this investment, Providence Equity Partners will take a significant minority equity stake in UFO and will be the largest shareholder in the Company. The Indian promoters of the Company, Valuable Group and Apollo International Limited (an affiliate of Apollo Tyres) as well as 3i Group, a leading international private equity fund and an early investor in UFO, will continue to remain significant shareholders.

Commenting on the partnership, Mr. Kapil Agarwal, Jt. Managing Director UFO Moviez, said “We are very excited to initiate our partnership with Providence Equity Partners and look forward to driving the Company to its next phase of growth, where we will continue to provide better and more cost effective business solutions for the entertainment industry. Providence, as the world's leading media and entertainment focused private equity fund is the ideal partner for us in the next phase of growth. 

Our alliance with Providence Equity Partners is an endorsement of our confidence in our unique pay per use business model and our robust technology infrastructure. The Digital Cinema space is growing at a very rapid pace and we are extremely well positioned to ride the wave into a completely digitized scenario. We believe that our highly efficient delivery platform combined with the commercial advantage of our Digital Cinema system will continue to drive digitalization not only in India but the world over.”

UFO has also acquired a strategic stake in Scrabble Entertainment Private Limited, India’s largest DCI compliant Digital Cinema Company. Scrabble has over 250 screens where they have installed the Hollywood Studios mandated DCI certified Digital Cinema systems. This acquisition in Scrabble will further consolidate UFO’s positioning in the Digital Cinema market paving the way for a combined offering which will provide greater flexibility to distributors and exhibitors.

UFO Moviez India is the market leader in India in the Digital Cinema segment. The Company has till date screened almost 7 Million shows all over India and has released over 3,100 movies in 23 languages. It has been using its technology solutions to provide High Definition Digital Cinema experience to Indian audiences and has demonstrated its capability of showing live IPL matches in cinemas across the country, both in 2D as well as 3D formats. UFO has recently launched the UFO Ticketing Platform, an online ticketing system with real time monitoring facilities

It has revolutionized the way films are distributed and exhibited through its technology, infrastructure and unique pay per show business model, bringing in a 'First Day First Show' regime for film distributors and cinema owners.

Providence Equity Partners a leading global private equity firm specializing in equity investments in media, entertainment, communications and information services companies around the world has invested around Rs. 260 crore in a mix of primary and secondary investment in UFO Moviez India Limited. UFO is the world’s largest satellite based Digital Cinema Service with close to 2,500 installations across India and is the only Company in the world delivering MPEG – 4 High Definition content for Digital Cinema via satellite. It has revolutionized the way films are distributed and exhibited through its technology, infrastructure and unique pay per show business model, bringing in a 'First Day First Show' regime for film distributors and cinema owners.

Said Bis Subramanian – Managing Director, Providence Equity Advisors India Private Ltd. “Providence is delighted to partner with UFO Moviez, which is an innovative player in the film distribution and exhibition space in India. This is an exciting opportunity as the Company has pioneered a highly cost effective satellite based High Definition Digital Cinema system for delivering movies and other live content and is making a significant impact in the industry. UFO’s technology and business model are ideally suited for India and other emerging markets. Providence looks forward to a close partnership with the Company and to contributing to its further growth.”

This investment will augment the Company’s growth plans in the Indian and International markets as well as the roll out of its 3D systems in more than 1000 screens in India. UFO has aggressive expansion plans and is targeting 4,000 screens in the next two years. By virtue of this investment, Providence Equity Partners will take a significant minority equity stake in UFO and will be the largest shareholder in the Company. The Indian promoters of the Company, Valuable Group and Apollo International Limited (an affiliate of Apollo Tyres) as well as 3i Group, a leading international private equity fund and an early investor in UFO, will continue to remain significant shareholders.

Commenting on the partnership, Mr. Kapil Agarwal, Jt. Managing Director UFO Moviez, said “We are very excited to initiate our partnership with Providence Equity Partners and look forward to driving the Company to its next phase of growth, where we will continue to provide better and more cost effective business solutions for the entertainment industry. Providence, as the world's leading media and entertainment focused private equity fund is the ideal partner for us in the next phase of growth. 

Our alliance with Providence Equity Partners is an endorsement of our confidence in our unique pay per use business model and our robust technology infrastructure. The Digital Cinema space is growing at a very rapid pace and we are extremely well positioned to ride the wave into a completely digitized scenario. We believe that our highly efficient delivery platform combined with the commercial advantage of our Digital Cinema system will continue to drive digitalization not only in India but the world over.”

UFO has also acquired a strategic stake in Scrabble Entertainment Private Limited, India’s largest DCI compliant Digital Cinema Company. Scrabble has over 250 screens where they have installed the Hollywood Studios mandated DCI certified Digital Cinema systems. This acquisition in Scrabble will further consolidate UFO’s positioning in the Digital Cinema market paving the way for a combined offering which will provide greater flexibility to distributors and exhibitors.

UFO Moviez India is the market leader in India in the Digital Cinema segment. The Company has till date screened almost 7 Million shows all over India and has released over 3,100 movies in 23 languages. It has been using its technology solutions to provide High Definition Digital Cinema experience to Indian audiences and has demonstrated its capability of showing live IPL matches in cinemas across the country, both in 2D as well as 3D formats. UFO has recently launched the UFO Ticketing Platform, an online ticketing system with real time monitoring facilities.

Providence Equity Partners a leading global private equity firm specializing in equity investments in media, entertainment, communications and information services companies around the world has invested around Rs. 260 crore in a mix of primary and secondary investment in UFO Moviez India Limited. UFO is the world’s largest satellite based Digital Cinema Service with close to 2,500 installations across India and is the only Company in the world delivering MPEG – 4 High Definition content for Digital Cinema via satellite. It has revolutionized the way films are distributed and exhibited through its technology, infrastructure and unique pay per show business model, bringing in a 'First Day First Show' regime for film distributors and cinema owners.

Said Bis Subramanian – Managing Director, Providence Equity Advisors India Private Ltd. “Providence is delighted to partner with UFO Moviez, which is an innovative player in the film distribution and exhibition space in India. This is an exciting opportunity as the Company has pioneered a highly cost effective satellite based High Definition Digital Cinema system for delivering movies and other live content and is making a significant impact in the industry. UFO’s technology and business model are ideally suited for India and other emerging markets. Providence looks forward to a close partnership with the Company and to contributing to its further growth.”

This investment will augment the Company’s growth plans in the Indian and International markets as well as the roll out of its 3D systems in more than 1000 screens in India. UFO has aggressive expansion plans and is targeting 4,000 screens in the next two years. By virtue of this investment, Providence Equity Partners will take a significant minority equity stake in UFO and will be the largest shareholder in the Company. The Indian promoters of the Company, Valuable Group and Apollo International Limited (an affiliate of Apollo Tyres) as well as 3i Group, a leading international private equity fund and an early investor in UFO, will continue to remain significant shareholders.

Commenting on the partnership, Mr. Kapil Agarwal, Jt. Managing Director UFO Moviez, said “We are very excited to initiate our partnership with Providence Equity Partners and look forward to driving the Company to its next phase of growth, where we will continue to provide better and more cost effective business solutions for the entertainment industry. Providence, as the world's leading media and entertainment focused private equity fund is the ideal partner for us in the next phase of growth. 

Our alliance with Providence Equity Partners is an endorsement of our confidence in our unique pay per use business model and our robust technology infrastructure. The Digital Cinema space is growing at a very rapid pace and we are extremely well positioned to ride the wave into a completely digitized scenario. We believe that our highly efficient delivery platform combined with the commercial advantage of our Digital Cinema system will continue to drive digitalization not only in India but the world over.”

UFO has also acquired a strategic stake in Scrabble Entertainment Private Limited, India’s largest DCI compliant Digital Cinema Company. Scrabble has over 250 screens where they have installed the Hollywood Studios mandated DCI certified Digital Cinema systems. This acquisition in Scrabble will further consolidate UFO’s positioning in the Digital Cinema market paving the way for a combined offering which will provide greater flexibility to distributors and exhibitors.

UFO Moviez India is the market leader in India in the Digital Cinema segment. The Company has till date screened almost 7 Million shows all over India and has released over 3,100 movies in 23 languages. It has been using its technology solutions to provide High Definition Digital Cinema experience to Indian audiences and has demonstrated its capability of showing live IPL matches in cinemas across the country, both in 2D as well as 3D formats. UFO has recently launched the UFO Ticketing Platform, an online ticketing system with real time monitoring facilities.

Source: India Infoline

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