Mumbai, Nov 28 (UNI) Pyramid Saimira Theatre today announced its strategic acquisition of Mumbai-based Dimples Cine Advertising.
As per the details of the acquisition, Pyramid Saimira Group has acquired 51 per cent stake in the company, for an undisclosed sum. The firm will continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira Group universe.
Pyramid Saimira Theatre Managing Director P S Saminathan said, ''As per the detail of the acquisition, Pyramid Saimira will roll out a massive business plan for Dimples Cine Advertising and Dimple Cine Activation, 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, he added. Recently, Pyramid Saimira acquired Texas-based FunAsiA through its subsidiary Pyramid Saimira Entertainemnt America.
Dimple Cine Advertising Joint Managing Director Kamal Karamchandani said, ''The Indian cinematic advertising is set to witness an extremely rapid growth, with organised theatre chain companies marking penetration coupled with growing digitalization of theatres with ability to broadcast as well as monitor the advertisements exhibited in the screens.'' Pyramid currently has access to 703 screens globally. Dimples Cine has more than 200 screen's rights for advertisments. With this, any advertiser will have access to approximately 1000 screens as of now across India.