AUCKLAND: Vista Group International Limited has acquired the remaining 50% of Cinema Intelligence from the founder and CEO Claudiu Tanasescu, with the net consideration met from existing cash reserves, a news release said.
Claudiu will continue to work with Vista Group following the transaction, assisting with the integration of Cinema Intelligence into Vista Cinema’s products and driving the development and integration of intelligent algorithms into additional cinema focused solutions.
Cinema Intelligence empowers cinema exhibitors to make smarter data-driven business decisions with their Artificial Intelligence powered solution for forecasting, distributor negotiation, automated scheduling, and business analysis.
Cinema Intelligence capabilities have been integrated with more and more of Vista Cinema’s deals with its large cinema circuit customers, with their increasing need for a powerful business intelligence tool.
Vista Group Chief Executive, Kimbal Riley commented: “The time is right to bring the business fully within the Group under Vista Cinema, and integrate its solutions within the overall Vista Cinema software product suite. Access to advanced forecasting capabilities, allowing exhibitors to optimise their cinemas operations, is more relevant than ever given the impact of the pandemic on the industry.”
Vista Group (NZSX & ASX: VGL) is a world leading New Zealand company providing technology solutions to the global film industry.
Building on the leading position of Vista Entertainment Solutions (‘Vista Cinema’) in the cinema exhibition sector, Vista Group has expanded to offer solutions to other sectors of the industry.
Additional to Cinema Management software provided by Vista Cinema, the offers of the Vista Group of companies cover moviegoer data analytics, business intelligence solutions, box office reporting software, creative and marketing services to movie studios and online movie media and exhibition information for moviegoers.
The cross-border global nature of the business of movies has resulted in Vista Group businesses enjoying customer relationships in multiple countries around the world. Vista Cinema software installations are in theatres in more than 110 countries.
Vista Group has over 700 staff across 11 offices in New Zealand (Auckland headquarters), Australia, Malaysia, South Africa, the UK, Netherlands, China, the USA and Latin America.