Chennai, Jan 14 Qube Cinema, a leading provider of end-to-end digital cinema technology solutions, has announced that it has signed a definitive agreement to acquire a 100 per cent stake in MetaMedia (MMT Tech, Inc).
MetaMedia is North America's largest cloud-based content delivery platform to cinemas.
With this acquisition, Qube Wire became the world's largest cinema electronic delivery network with more than 5,000 cinemas connected across 51 countries.
In the United States, the merged network will provide coverage to nine of the top 10 largest cinema chains. Qube will continue to execute MetaMedia's existing deployment plans and service its customer agreements.
In a statement, Qube Cinema CEO Harsh Rohatgi said, "The acquisition of MetaMedia is a huge move for Qube's North American operations."
"MetaMedia's innovative network has consistently delivered faster, more cost-effective solutions for content delivery, saving millions compared to traditional methods. At Qube, we've leveraged this technology to bring Indian feature films to North American cinemas with speed and precision, expanding the size and number of Indian releases by 3x in the last five years. With the addition of MetaMedia, our combined strengths will set a new standard in cinema content delivery for many more distributors and create unparalleled value for the global movie industry."
Qube Wire has been growing consistently since launching as a global cloud-based distribution platform in early 2017. It delivers more than 95 per cent of all the Indian movies released around the world. With its regional partnerships and automated hard drive duplication hubs, Qube Wire provides content delivery services to cinemas in 135 countries around the world.
Notably, Qube Wire has enabled a substantial increase in the box office of Indian movies in the US. Indian movies are often finished only days before their release, which makes Qube Wire's fast and efficient cloud-based distribution system essential to meet nearly impossible delivery deadlines.
Qube Wire also provides KDM management for many of its customers. Last year, Qube issued more than 2.3 million KDMs to theatres in North America.
Qube Cinema is a pioneer in crafting end-to-end digital cinema technology and delivers cutting-edge products and services to filmmakers, exhibitors, and audiences.
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