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Vista Agrees to Acquire Stake in MACCS International as Part of a Global Diversification Strategy(April 08, 2014)
(PRWEB) April 08, 2014
Vista will buy an initial 25% stake, with an option to increase to 50%, in a deal that Chief Executive Murray Holdaway described as the New Zealand-based companys first serious move to become a major global provider of all software solutions to the film industry.
Weve been quite aggressive in our strategy for growth and acquisition and have made no secret of our intent to build our 35% global market share of the modern cinema market to 50%, says Holdaway. Were now expanding vertically, through acquisition and organic growth, to provide our innovative package of software solutions to distributors and movie-makers. The MACCS purchase will be our first serious step on that path, he says.
MACCS, which stands for Movie ACCounting System, is a Dutch company founded by Bert Huls and Mathieu Van As; it is a major supplier of distribution software outside of the US.
The MACCS business includes:
- MACCS a fully integrated ERP system developed specifically for film distributors.
- MaccsBox an electronic data exchange that fully automates the process of reporting and invoicing box office returns between exhibitor and distributor.
- DCinemaHub a universal platform that fully automates the ordering and delivery of digital content from distributors to exhibitors.
- VPF Hub an independent clearing system for VPF settlements.
MACCS founder and chief executive, Bert Huls said: I have long admired Vistas significant global growth and the quality of their executive team and were tremendously excited to have them coming on board as we grow our market share, particularly in America.
Holdaway says Vista will share some of the companys Los Angeles-based infrastructure with MACCS and will provide important introductions to key US players.
They are a profitable and successful business; Vista already has integration with MACCS because our customers have to speak to their customers, in terms of computer systems so this will be a seamless integration of the two world-leaders in the provision of end-to-end film industry software. Theyre already a market leader in Europe and now we are going to help them to grow to become a major supplier in other world markets where Vista is already a significant supplier. Initially we see great opportunities in the USA.
About Vista Entertainment Solutions:
Vista Entertainment Solutions is the world leader in cinema management software solutions with installations in 63 countries across all continents and an estimated 35% global market share in the large cinema circuit market. The Vista software product line is both integrated & scalable, suited to cinema exhibitors operating 20+ screens and up to 100's of cinemas. Vista software comprises multiple software modules required to deliver optimal Box Office returns, total cinema management and both internal and external analysis and reporting. Vista is head-quartered in Auckland, New Zealand and has subsidiaries incorporated in Los Angeles, London and Shanghai.
About MACCS International:
MACCS International is the largest independent developer of software for the international film industry. MACCS provides software to over 100 film distributors in more than 36 territories. This includes smaller independent distributors as well as major studios. MACCS has offices in Holland, Germany, Australia and Los Angeles.
Read the full story at http://www.prweb.com/releases/2014/03/prweb11699223.htm.