MUMBAI: Pyramid Saimira Theatre Ltd has acquired a majority stake (51 per cent) in Mumbai based theatre ad agency Dimples Cine Advertising. The cost of acquisition was not disclosed.
It may be recalled that Businessofcinema.com was the first to report earlier this month that Pyramid Saimira Theatre had zeroed in to acquire Dimples Cine Advertising.
Pyramid Saimira Theatre managing director P S Saminathan said, “We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising and welcome the employees of Dimples into the Pyramid Saimira family. Further, as the content industry is becoming more atomized and pull oriented, the challenges for an advertiser to be visible on all the media vehicles, assumes greater importance with the proliferation of television channels and other exposure outlets such as internet, cinema advertising etc. Pyramid Saimira with its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theaters across the country, is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. In short, Pyramid Saimira will become a one stop entertainment super market.”
Dimples Cine Advertising Pvt. Ltd. & Dimples Cine Activations joint managing director Kamal Karamchandani added, “It gives us great pleasure to be allied with the Pyramid Saimira Group, which is by far, the fastest growing entertainment company in the country today. The Indian cinematic advertising is set to witness an extremely rapid growth, with organised theatre chain companies making penetration coupled with growing digitalization of theatres with ability to broadcast as well as monitor the advertisements exhibited in the screens. Pyramid Saimira Group currently has access to 703 screens globally. Dimples Cine has more than 200 screenâ€™s rights for advertisements. With this, any advertiser will have access to approximately 1000 screens as of now across India, which is an unparalled reach. We will work out high-impact and cost effective advertising solutions in all key markets in India.”
As per the details of the acquisition, Pyramid Saimira will roll out a business plan for Dimples Cine Advertising and Dimples Cine Activations, through which Dimples will have access to 4000 digitally targetable screens by 2010. “Through this acquisition, we aim to be a major media and advertisement vehicle in India,” added Saminathan.
Dimple Cine Advertising was founded by Nari Karam-Chandani in 1992 and is in the exhibition of ad films and slides in-cinemas and multiplexes across the country. The company has a pan India presence and is a one-stop cinema solution provider for both on-screen and off-screen advertising business capable of all types of cinema campaigns.
Mumbai based Keynote Corporate Services was the advisor to the company on this transaction.
Recently, Pyramid Saimira acquired Texas-based FunAsiA through its subsidiary; Pyramid Saimira Entertainment America, Inc. Pyramid Saimira also acquired an existing theatre and radio drive-time hours in Chicago and radio time in Houston.