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Ansata hosts Loudness Seminar with Avid, Dolby, and Netflix

On 11th October 2019, some of the most prominent audio industry professionals gathered in Mumbai for the Loudness Seminar hosted by Ansata..... read more

Articles Sept - Oct 2019

Modern Stage Service Projects Delivers awe Inspiring Light & Sound Show at Jyotisar Tirth

Jyotisar, situated about 12 kms away from Kurukshetra on Kurukshetra-Pehowa road in Haryana, is a part of a 48 km parikrama with temples. This venerated place is known as the land where Lord Krishna ..... read more

LBT Lights up RAAS CLUB, Pattaya

Pattaya, a major tourist hotspot, situated on Thailand’s Eastern Gulf coast, recently welcomed a new and modern destination for partygoers – The Raas Club..... read more

PALM Expo 3rd Lighting Design Showcase 2019...

In 2019, PALM expo upped the ante at the Lighting Design Showcase with a one of its kind remarkable and ingenious Spider lighting rig. The feature was created to provide a platform to lighting designers from across India to showcase their talent..... read more

Naveen Deshpande - Lighting Designer Of The Year

Any live event is obviously redundant without the lighting and visual imagery. Lighting plays a crucial role in any show adding excitement, dynamism and emotion to a performance and it is the art and science of the Lighting Designer that adds zing to any concert..... read more

Osram Clay Paky : Sharpy Plus - Outstanding Lighting Product Innovation

The PALM Sound & Light awards honoured Osram Clay Paky SHARPY PLUS with the award for Outstanding Lighting Product Innovation of the Year at the 2019 awards ceremony. Clay Paky has always been a market leader in entertainment..... read more

Sound Emporium - Lighting Integration

The PALM Sound & Light Awards honoured Sound Emporium – one of India’s premier lighting company, recognized for delivering quality technology at affordable prices..... read more

"Apart From Education and Giving People Access to Professional Training, It's also about Bringing the Community Together and that's a Really Important Aspect in a Growing Industry"

Mumbai’s AV Consultants and Integrators congregated at CEDIA's Training & Tech Summit Event held from 7th to 9th August at the MCA Club in Bandra, Mumbai. AV-ICNx caught up with CEDIA..... read more

OHM at India’s Greatest New Landmark – Digha Convention Centre

Digha is West Bengal’s most popular sea resort. It is located 187 km South West of Kolkata. Chief Minister Mamta Banerjee had earlier laid down the blueprint for the creation of a unique Convention Centre to promote..... read more

Monitor Mixing Summit 2019

With an aim to fill up a huge vacuum in the industry for knowledge and audio education in the Live sound realm, EvenTech Academy, an initiative by Sound.com organized a full-day summit..... read more

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QUBE CINEMA TECHNOLOGIES AND UFO MOVIEZ TO MERGE

The Boards of Directors of UFO Moviez India Limited and Qube Cinema Technologies Private Limited approved a Composite Scheme of Arrangement and Amalgamation, amongst UFO, Qube, Qube Digital Cinema Private Limited (“Qube Digital”), Moviebuff Private Limited (“Moviebuff”) and PJSA Technosoft Private Limited (“PJSA”). Qube, Qube Digital and Moviebuff are part of the Qube group whereas PJSA is a wholly owned subsidiary of UFO.

The proposed transaction is being carried pursuant to the Scheme on the basis of which Qube’s business of providing technology solutions and services in the film, video and audio domains, including digital cinema advertising will be first demerged into Qube Digital and then subsequently merged with UFO pursuant to certain intermediate steps as approved by the Boards of Directors of the aforementioned companies. The merger ratio based on relative Valuation stands at 63.6% for UFO and 36.4% for Qube Digital.

One of the intermediate steps mentioned above will include ICICI Venture along with UFO purchasing a stake in Qube Digital from certain private equity investors who have been shareholders of Qube for several years. Qube Digital’s shares purchased by UFO will stand cancelled post-merger. The proposed transaction is expected to further solidify the merged entity’s position in India’s digital cinema distribution and in-cinema advertising industry.

Merger, Advantages & Development

Considering the existing entertainment and advertising market dynamics, the proposed merger of the two companies will lead to robust growth opportunities in India and globally and will create greater value for their respective shareholders. With UFO MPEG4 & Qube MPEG2 technology used for the transmission of content into e-Cinema, it is expected that the combined entity will develop and deploy both D-Cinema and e-Cinema systems, that incorporate the best features of the multiple technologies available to the company.

Both UFO, with 4,000 advertising screens, and Qube, with 3,300 advertising screens, have large advertising networks. And because of the strong geographical strengths the merged business will be able to offer a pan India in-cinema advertising network covering over 7,300 screens, significantly improving the overall value proposition for clients. The two companies also have complementary strengths in terms of client base, presenting attractive cross-sell opportunities.

Further, the proposed merger would bring about synergies of operations and benefits of scale by minimizing the duplication of administrative functions, combining some infrastructural requirements and unifying legal and regulatory compliances.

In addition, Qube has developed Qube Wire, which is a self-service, single-window system for global theatrical distribution. With a simple but comprehensive user interface, distributors can manage their DCP assets, assign territorial rights and have their content and keys delivered to any theatre in the world. Theatres can manage their own digital cinema system details and access their Universal Inbox on the Qube Wire service as well. This service is currently in the process of commercialization but is already in operation on a limited-scale serving select clients. UFO, along with its screen network in India, also has a network of screens overseas. The combined network, post-amalgamation, will allow faster monetization of Qube Wire and other IP based Qube products, both within India and internationally.

The combined entity is also expected to leverage ICICI Venture’s significant prior experience as a private equity investor in new age businesses, including media and technology.

Comments from Founders & Management Team

Sanjay Gaikwad, Founder and Managing Director of UFO Moviez India Ltd., said, “We are excited to combine our business with such a strong partner. Qube has not only built a strong digital cinema and in-cinema advertising network in India but has also developed interesting technology products relating to film business for global application. The combined Company would have a stronger position in India’s digital cinema distribution and in-cinema advertising industry. The combination will bring together capabilities, talent, strong processes of both Companies and we together look forward to creating value for the entire Cinema value chain.”

Senthil Kumar, Co-founder of Qube Cinema Technologies Pvt. Ltd., said, “We are excited to partner with UFO and believe that the combination of the proven business models of the two companies would be extremely beneficial. Together, we will create a robust network offering digital cinema and in-cinema advertising services. UFO’s strengths combined with Qube’s strong technology focus would position the combined entity to deliver long-term growth at a faster pace. With extraordinary reach and execution capabilities, we are bringing together two world-class organizations to deliver much more, thus maximizing value for all stakeholders.”

Prashant Purker, Managing Director & CEO of ICICI Venture., said, “We believe the combination of UFO and Qube would be synergistic and value accretive for all stakeholders. We are pleased to have acted as a catalyst in this transaction as a partner and financial investor in the combined entity.”



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