Pyramid Saimira acquires Dimples Cine Advertising

Pyramid Saimira Theatre Ltd on November 28, 2007, has announced its strategic acquisition of Mumbai-based Dimples Cine Advertising Pvt. Ltd. & Dimples Cine Activations. As per the details of the acquisition, Pyramid Saimira Group has acquired 51% stake in the Company, for an undisclosed sum. The firm will continue to remain headquartered in Mumbai, while becoming a part of the Pyramid Saimira Group universe.

Speaking about the acquisition, Mr. P S Saminathan, Managing Director, of the Company said, "We are extremely happy to announce this strategic acquisition of Dimples Cine Advertising and welcome the employees of Dimples into the Pyramid Saimira family. Further, as the content industry is becoming more atomized and pull oriented, the challenges for an advertiser to be visible on all the media vehicles, assumes greater importance with the proliferation of television channels and other exposure outlets such as internet, cinema advertising etc. Pyramid Saimira with its strong presence in all streams of entertainment business in India, be it featuring film content for television or access to the largest chain of theaters across the country, is in a position to provide almost all advertising requirements of a large advertiser or agency under one umbrella. In short, Pyramid Saimira will become a one stop entertainment super market."

As per the details of the acquisition, Pyramid Saimira will roll out a massive business plan for Dimples Cine Advertising Pvt. Ltd. & Dimples Cine Activations, through which Dimples will have access to 4000 digitally targetable screens by 2010. "Through this acquisition, we aim to be a major media & advertisement vehicle in India," said Mr. Saminathan.

Recently, Pyramid Saimira acquired Texas-based FunAsiA through its subsidiary; Pyramid Saimira Entertainment America, Inc. Pyramid Saimira also acquired an existing theatre and radio drive-time hours in Chicago and radio time in Houston.