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Articles March-April-May-June 2020

The Art and Craft of Sound Design- Interview with Bishwadeep Chatterjee

PT met up with Bishwadeep Chatterjee, one of India’s most esteemed Sound Designer. In this extremely insightful interview, he generously shares his unique perspective and experience on music recording and sound design..... read more

Bose Professional Assures an IMMERSIVE SOUNDSCAPE At Sardar Patel Stadium – The Largest Cricket Stadium in the World

US President Donald Trump and First Lady Melania Trump were welcomed by Prime Minister Narendra Modi as they arrived for the “Namaste Trump” event on 24 Feb 2020..... read more

Shankar and Siddharth Mahadevan’s Lambodara Studios – Leaves you Breathless

Auroville based leading acoustic consultancy & audio video system design firm Sound Wizard was tasked with designing acclaimed singer, composer and music director Shankar Mahadevan’s ..... read more

In Conversation With Sreejesh Nair

Besides being a part of the first Dolby Atmos Mix theater installation in India and the first Dolby Atmos Premiere Mix room in the world, Sreejesh Nair has been responsible for crafting the sound for major films like Bombay Velvet, Gangs of Wasseypur - II, Agneepath..... read more

Stained Class Productions - Beyond the Realms of Sound

Meet the father & son duo, Murugan N. and Mrinal N. whose musical influence has been Judas Priest and who have aptly named their studio after the fourth studio album of Judas Priest - Stained Class. Mrinal who manages the technical aspects ..... read more

Independent Producers Blurb on their Music and Technology

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

Sequence of Steps to Follow on Resuming Studio Operations Post an Extended Duration of Shutdown

Munro Acoustics India has put together a suggestion/ guideline document after consulting many studios and engineers across the world to aid their clients in the Indian Subcontinent, Middle East and SE Asia..... read more

Acoustic and Audio System Design for Small Rooms - Part 1

Acoustic and audio system design for a “small room” can be extremely challenging, especially for critical listening applications like control rooms and reference home cinemas. It is vital to understand the relationship between system..... read more

Harman Reigns Supreme in Indian Cinemas

Sound in the cinema, until recently, was dictated by standardized speaker layouts. If you are from the commercial cinema project, from the first design to the finished furnishings..... read more

Recording To Records

Music in India has changed drastically. This music and song driven country which is largely dominated by Bollywood soundtracks, has in the past year seen less of originals and more of old songs being plagiarised..... 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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