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Articles Jan - Feb 2020

Sunburn Rocks with Full Spectrum Sound

One of Asia’s largest music festivals, OPPO Sunburn in association with Percept Live and Klassique Events Goa returned to its birthplace Goa, this December after a hiatus of 3 years. The festival which made a grand homecoming for its 13th edition at Vagator for a three-day showcase ..... read more

11 Questions with Kalle Hvidt Nielsen-CEO, DPA Microphones

Kalle Hvidt Nielsen, CEO at DPA Microphones since September 2016 gained extensive knowledge of developing cutting-edge technologies in audio, in his previous positions as CEO at Bang & Olufsen A/S and Brüel & Kjær Sound & Vibration Measurement..... read more

New Meyer Sound Systems Highlight 50th Anniversary of India’s National Centre for the Performing Arts

Widely heralded as one of India’s leading cultural institutions, The National Centre for the Performing Arts (NCPA) in Mumbai recently celebrated 50 years of presenting an extraordinary array of dance, drama and musical performances by Indian and international artists..... read more

Palm Technology - Top 50 Products 2020

The last 12 months have seen a revolution in pro audio, lighting, DJ Gear and installation. With new gear, equipment, and companies bringing in new technology, the industry is opening up to new possibilities ..... read more

Iconic Mahakavi Kalidas Kalamandir Auditorium Upgrades to Bose Professional RoomMatch System

The addition of the Bose Professional RoomMatch system has dramatically improved the overall sound experience here. It has always been our mission to provide the city with a space that allows audiences the chance to immerse themselves into the on-stage..... read more

The Making of U2’s - The Joshua Tree Tour, India

Over 40,000 Indian fans who might have endured over a decade of false rumours about the legendary band U2 touring the country, were finally treated to a dream musical extravaganza by BookMyShow (BMS), India’s leading entertainment destination when they ..... read more

Articles Nov - Dec 2019

Dev Electronics – India’s Most Preferred Pro Audio Technologies partner!

Success can be elusive for many trying to make their presence felt in an increasingly crowded pro audio marketplace of channel partners, distributors, and dealers. This naturally entails embodying a certain boldness of spirit..... read more

DJs Scratching on Favourites

There is no better way than ending 2019 than listing out some of the best DJ gear from some of the best DJs in the country..... read more

SNL Pro Ups the Ante at the OnePlus Music Festival

Curated by OnePlus, the OnePlus Music Festival “merged the wonder of music and the power of technology” to bring an immersive experience at the DY Patil Stadium in Mumbai on 16th November..... 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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