Arts Alliance Media today announced that it has been acquired by Shandong Luxin-Rio Visual Technology of Qingdao, China. The acquisition complements Luxin-Rio’s existing portfolio of companies and investments in the cinema space.
Building on Luxin-Rio’s assets in 3D and 4D technologies, this is Luxin-Rio’s first venture into software solutions. AAM will form the basis of Luxin-Rio’s ambitious strategy for bringing the most innovative software solutions to a global cinema market. With AAM already providing business and mission critical solutions to over 80 major exhibitors including over half of the world’s ten largest cinema chains, the foundation is strong for further growth and innovation.
Jiang Dong, chairman of Luxin-Rio Group said, “This is a very exciting time for Luxin-Rio. The opportunity to acquire a quality asset such as AAM does not come up very often. We have been very impressed with what AAM has been able to achieve, its customer base, its product lines and the quality of its people. Our mission is to service the cinema industry globally with great technology and AAM is a major piece of the puzzle in achieving that goal.”
John Aalbers, CEO at AAM said, ”This is an excellent result for AAM and for our staff, customers and partners alike. Luxin-Rio has the ambition and resources to take AAM to the next level of global expansion. With Luxin-Rio’s help, AAM is now very well placed to innovate further and drive the cinema software evolution in a post virtual print fee world by bringing more value creating software solutions to our customers.”
The acquisition will be revenue and earnings enhancing for the Luxin-Rio group and will consolidate Luxin-Rio’s position as a major provider of leading cinema technologies.
Thomas Høegh, AAM’s founder said, “The cinema industry is undergoing significant transformation as software technology truly comes to the fore. Luxin-Rio have a great vision for the role that software has to play in cinema and the resources to make it a reality. This combined with its strength in China means that AAM will have the best opportunity to fully realize its potential. I look forward to watching AAM go from strength to strength in the years ahead and I wish the management and staff continued success in their new home.”
Luxin-Rio says it will immediately leverage its existing presence in China to increase AAM’s sales reach as well as its deployment and support capabilities for that region. AAM already has a number of customers in China, including Wanda Cinema Line. AAM believes it will be able to build on that success with Luxin-Rio’s support and strong local presence. Outside of China, AAM will continue to service its customers from its headquarters in London and its emerging presence in North America.
Shandong Luxin Culture Industry Venture Capital was established Luxin-Rio in 2013 in Qingdao, Shandong Province. Luxin-Rio’s scope of business addresses the full supply chain of the digital cinema industry. Its key clientele spans cinemas, theme parks as well as amusement and recreation industries.
Arts Alliance Media http://www.artsallinacemedia.com