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Mumbai, Nov. 29 Pyramid Saimira has picked up a 51 per cent stake in Mumbai-based Dimples Cine Advertising Pvt Ltd & Dimples Cine Activations for an undisclosed amount. The firm will continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira Group.

At a press conference, Mr Kamal Karamchandani, Joint Managing Director, Dimples Cine Advertising Pvt Ltd & Dimples Cine Activations, said, “ Cinematic advertising is set to witness an extremely rapid growth with organised theatre chain companies making a penetration, coupled with growing digitalisation 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 screen’s rights for advertisements. With this, any advertiser will have access to approximately 1,000 screens, as of now, across India, which is an unparalled reach. Dimples Cine is one of the biggest cinema advertisement companies with end to end in-house expertise, under one roof. With all these crucial elements, 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 massive business plan for Dimples Cine Advertising Pvt Ltd & Dimples Cine Activations, through which Dimples will have access to 4,000 digitally targetable screens by 2010. “Through this acquisition, we aim to be a major media and advertisement vehicle in India,” said Mr Saminathan, Managing Director, Pyramid Saimira Theatre Ltd.

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. Keynote Capital Ltd acted as advisors to PSTL for this acquisition.

More Stories on : Advertising | Mergers & Acquisitions | Cinema

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