Digital movie distribution firms K Sera Sera (KSS) Digital Cinema and United MediaWorks (UMW) have decided to merge their operations to form a joint venture to become the third largest player of the country.
Through their new partnership, they are eying 25 per cent market share in the digital cinema technology segment in the next two years in the country, a statement said.
Post merger, the new venture will serve their existing 600 digital cinema theaters.
Commenting on the development, United Mediaworks Co-Founder and Joint Managing Director said: “We are really excited to partner with K Sera Sera, as our goal has always been to support the growth of the Media and Entertainment industry. With this merger, we are aiming to expand our presence across India and create a benchmark for the entire industry in terms of technology and quality services.”
K Sera Sera Digital Cinema CEO Vineeta Dwivedi said: “By joining forces with United Mediaworks and bringing our teams together, we will build on each other’s strengths and bring down our operational costs.”
The two firms would integrate their operations and technology to develop and consolidate their market position.
They are aiming to increase their presence in 2,000 screens pan India with a focus on southern markets.