Pyramid Saimira Theatres Ltd (PSTL), a multinational entertainment company, has announced its strategic acquisition of Mumbai-based Dimples Cine Advertising Pvt. Ltd. PSTL has acquired 51 per cent stake in the company, for an undisclosed sum. Dimples Cine Advertising will continue to be headquartered in Mumbai.
Commenting on the acquisition, Kamal Karamchandani, Joint Managing Director, Dimples Cine Advertising, said, “It gives us great pleasure to be allied with Pyramid Saimira, which is by far the fastest growing entertainment company in the country today. The Indian cinematic advertising is set to witness an extremely rapid growth, with organised theatre chain companies, coupled with growing digitisation of theatres with ability to broadcast, as well as monitor the advertisements exhibited in the screens.”
PSTL currently has access to 703 screens globally, while Dimples Cine Advertising has advertising rights for more than 200 screens. Karamchandani added that this acquisition meant that any advertiser would have access to approximately 1,000 screens now across India, which was an unparalleled reach. “Dimples Cine Advertising is one of the biggest cinema advertisement companies with end-to-end in-house expertise, under one roof. With all these crucial elements, we will work out high-impact and cost effective advertising solutions in all key markets in India,” he said.
PS Saminathan, Managing Director, PSTL, said, “We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising, and welcome the employees of Dimples Cine into the Pyramid Saimira family. As the content industry is becoming more atomised and pull-oriented, the challenges for an advertiser to be visible on all the media vehicles assumes greater importance with the proliferation of television channels and other exposure outlets such as Internet, cinema advertising, etc. With its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theatres across the country, Pyramid Saimira is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. In short, Pyramid Saimira will become a one-stop entertainment super market.”
As per details of the acquisition, PSTL will roll out a massive business plan for Dimples Cine Advertising, through which the latter will have access to a target of 4,000 digital screens by 2010. “Through this acquisition, we aim to be a major media and advertisement vehicle in India,” added Saminathan.
Keynote Capital Ltd was the advisor to PSTL for this acquisition. Recently, PSTL had acquired Texas-based FunAsiA through its subsidiary Pyramid Saimira Entertainment America, Inc. PSTL also acquired an existing theatre and radio drive-time hours in Chicago and radio time in Houston.
Pyramid Saimira Group is an Indian multinational entertainment company that operates in over four countries. It is present in film exhibition, film production, TV content production, film distribution, advertisement, media, food and beverages, etc. It has over five companies namely, Pyramid Saimira Productions Limited (PSTL), Pyramid Saimira Theatre Chain Malaysia Sdn Bhd; Pyramid Saimira Entertainment Limited, Singapore; Pyramid Saimira Entertainment America, Inc. and Saimira Realty Pvt. Ltd.