You are using an older browser version. Please use a supported version for the best MSN experience.

Vista Group signs Africa deal

NZN 23/05/2016 Jonathan Underhill

Vista Group International has inked its first deal to provide its cinema software to theatres in Africa.

The company's Vista Entertainment Solutions and Movio units won a contract to provide their cinema industry software to Ster-Kinekor, the largest cinema operator on the African continent, the company said.

Ster-Kinekor is already a customer of VGL's film distribution business, and with the latest deal becomes the second Vista customer licensed to three VGL products, it said.

The deal had been expected and was reflected in Vista's expectations for revenue this year.

The rollout of Vista and Movio software across all of Ster-Kinekor's sites is scheduled to be completed by the end of 2016.

Ster-Kinekor has 66 sites and 480 large-scale screens across South Africa, Namibia, Zambia and Zimbabwe, the company said.

Vista's market share in Africa and the Middle East will increase to 60 per cent for cinemas with 20 screens or more and will enable Movio to collect moviegoer loyalty data for over 60 per cent of the screens in South Africa, it said.

It has been a busy year so far for Vista, which announced the acquisition of movie website Flicks for an undisclosed sum.

In February chief executive Murray Holdaway said the company had about $27 million of cash on hand that it would use for any new purchases.

It was named Hi-Tech company of the year at New Zealand's annual Hi-Tech Awards with the judges saying the company truly had "worldwide potential".

Its global market share in the large cinema market has grown to 38 per cent.

Vista shares last traded at $5.85, having been sold in the 2014 initial public offering at $2.35 apiece.

image beaconimage beaconimage beacon