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K Sera Sera Digital Cinema and United MediaWorks have decided to integrate their operations and technology and use their combined energies to develop and consolidate their market position.
To fuel their expansion plans, both the companies plan to invest Rs 100 crore over the next two to three years.
Post-merger across content, technology and operations, the new venture will serve their existing 600 digital cinema theatres across the country.
KSS’s Satish Panchariya will be the Chairman of the new company and UMW’s Ashish Bhandari will be the Managing Director.
This investment will be used to build scalable digital cinema technology and on-ground servicing, while assisting in digital content security and distribution of the films.
Over the next two years, the joint venture is aiming to capture 25 per cent market share with a presence in 2,000 screens across India.
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