Vista Group acquires 100% of Cinema Intelligence

Vista Group acquires 100% of Cinema Intelligence Vista Group International Limited (NZX & ASX:VGL) is pleased to announce that it has acquired the remaining 50% of Cinema Intelligence from the founder and CEO Claudiu Tanasescu, with the net consideration met from existing cash reserves. Claudiu will continue to work with Vista Group following the transaction, assisting with the integration of Cinema Intelligence into Vista Cinema's products and driving the development and integration of intelligent algorithms into additional cinema focused solutions. Cinema Intelligence empowers cinema exhibitors to make smarter data-driven business decisions with their Artificial Intelligence powered solution for forecasting, distributor negotiation, automated scheduling, and business analysis. Cinema Intelligence capabilities have been integrated with more and more of Vista Cinema's deals with its large cinema circuit customers, with their increasing need for a powerful business intelligence tool. Vista Group Chief Executive, Kimbal Riley commented: "The time is right to bring the business fully within the Group under Vista Cinema, and integrate its solutions within the overall Vista Cinema software product suite. Access to advanced forecasting capabilities, allowing exhibitors to optimise their cinemas operations, is more relevant than ever given the impact of the pandemic on the industry." For further information please contact: Kimbal Riley Chief Executive Officer Vista Group International Ltd Contact: +64 9 984 4570 Matt Cawte Chief Financial Officer Vista Group International Ltd Contact: +64 9 984 4570 End CA:00364460 For:VGL Type:GENERAL Time:2020-12-04 08:49:24