In a move to create a monopoly in digital cinema distribution network and in-cinema advertising platform, In November 2017 Chennai-based Qube Cinema Technologies and Mumbai-headquartered UFO Moviez announced the merger of their businesses. Even after part of the scheme was approved by the Chennai NCLT bench, the scheme was rejected by the Mumbai NCLT in the last week of January 2019.
We had covered this article in our January 2018 issue and details of the proposed merger are as below.
UFO Moviez India Limited (UFO) is India’s largest digital cinema distribution network and in-cinema advertising platform in terms of number of screens. UFO operates India’s largest satellite-based, digital cinema distribution network using its UFO-M4 platform, as well as India’s largest D-Cinema network. Their offerings include Digital Cinema System, UFO Framez, Club Cinema and IMPACT Ticketing Platform. UFO Moviez is listed on BSE.
Qube Cinema Technologies Private Limited (QCTPL) is engaged in the business of providing technology in film, video and audio, including digital cinema distribution, editing, production and sound.
Other companies involved in the scheme:
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