Vista Latin America signs major enterprise software agreement with Cinépolis, the world's fourth largest cinema chain
AUCKLAND, New Zealand and MORELIA, Mexico, Oct. 25, 2017 (GLOBE NEWSWIRE) -- Vista Latin America, a subsidiary of Vista Entertainment Solutions Ltd, the world's leading cinema management software provider to the global cinema exhibition industry, is delighted to announce the signing of a five-year Enterprise Software Agreement with Mexico-based Cinépolis, the world's fourth largest cinema chain.
Vista Entertainment Solutions Ltd '(Vista Cinema') is a Vista Group International company (NZX:VGL) (ASX:VGL).
The Enterprise Agreement will cover all 625 of the cinema sites currently owned by Cinépolis throughout the world (5,170 screens), as well as future cinema sites.
Vista Cinema CEO Kimbal Riley says the deal is a natural extension of the relationship Vista has had with Cinépolis since 2009.
"This Enterprise Agreement with our long-time customer Cinépolis is the latest development in our strategy to secure longer-term Vista partnerships. Through the term of the agreement, it will enable Cinépolis to implement at agreed fees all products in the full suite of Vista Cinema software. Cinépolis has also committed to implementing Vista Cinema in Brazil, the world's fifth largest cinema market. The deal also reinforces Vista's recent announcement to incorporate our long-term Latin American business partner into Vista Group."
Co-CEO of Vista Latin America, Gustavo Ortega, says: "This agreement marks another step forward in our relationship with Cinépolis, enabling us to grow together as we both continue on a global journey of expansion."
"The signing of this agreement highlights Vista's ability to work in partnership with Cinépolis, one of the world's leading exhibitors and one that is continually using innovative technology to benefit their customers," says co-CEO of Vista Latin America, Armando Mejias.
"This deal sets out a path to continue our solid operation worldwide, which will involve bringing Brazil on board, and with the support of our joint Cinépolis-Vista partnership, will offer sustainable growth," says Cinépolis's Global IT Director, Gabriel Morales Becker.
About Vista Latin America
Vista Latin America was created in 2017 following an acquisition agreement between Vista Entertainment Solutions Ltd and its long-term Mexican business partner Senda Dirección Tecnológica, SA de CV. Senda was founded in Mexico City in 2002 by Armando Mejias and Gustavo Ortega, who continue to lead the new company. Prior to the formation of Vista Latin America, since 2003 Senda distributed Vista Cinema software in Mexico and in 14 other countries in the region.
About Vista Entertainment Solutions
Vista Entertainment Solutions Ltd (Vista Cinema) is the world leader in cinema management software solutions with installations in more than 80 countries around the world and an estimated 38% global market share in the Large Cinema Circuit market. The Vista Cinema software product line comprises multiple modules, integrated and scalable, suited to cinema exhibitors operating 20+ screens and 100s of cinemas. Vista Cinema is head-quartered in Auckland, New Zealand and has subsidiaries incorporated in Los Angeles, London, Shanghai, Beijing, Cape Town and Mexico City.
About Vista Group International:
Vista Group International (Vista Group) is a public company, listed on both the New Zealand and Australian stock exchanges (NZX:VGL) (ASX:VGL). The Group provides software and additional technology solutions across the global film industry. Cinema management software is provided by Vista Cinema, the core business of the Group. Movio (authority in moviegoer data analytics), Veezi (cloud-based SaaS software for the Independent Cinema Market), movieXchange (connecting the movie industry to simplify the promotion and sale of movie tickets), Maccs (film distribution software), Numero (box office reporting software for film distributors and cinemas), Cinema Intelligence (business intelligence solutions), Powster (creative studio and marketing platform for movie studios) and Flicks (moviegoer 'go to' portal for movie information) provide an innovative range of complementary products across additional film industry sectors, from production and distribution, to cinema exhibition through to the moviegoer experience. Vista Group has offices located in New Zealand (Auckland HQ), Sydney, Los Angeles, London, Shanghai, Beijing, Cape Town, Mexico City, the Netherlands and Romania.
Cinépolis is the world's 4th largest movie theater circuit, operating more than 5,170 screens in 14 countries and serving more than 317 million patrons annually. Cinépolis operates under four different brands that span the ultra-premium to the extreme value segments. It was the first cinema exhibitor in the world to pioneer the concept of premium and luxury movie theaters via its Cinépolis VIP brand. Cinépolis aspires to provide its patrons the best overall experience in filmed entertainment and employs a global workforce of 40,874 people to support its mission. Founded in 1971, Cinépolis headquarters is located in Morelia, Mexico.
|Vista Group International/Auckland, NZ||MBC/ Los Angeles|
|Christine Fenby||Maggie Begley (for Vista Group International)|
|+64 21 727 006||+1 310-390-0101|
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vista Group International Limited via Globenewswire
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