Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Vista buys controlling stake in Senda for $684k

Vista buys controlling stake in Latin American reseller Senda for $684k

By Paul McBeth

Aug. 21 (BusinessDesk) - Vista Group International has bought a 60 percent stake in Mexico's Senda Direccion Tecnologica, giving it control of the Latin American reseller of the cinema analytics firm's services.

The Auckland-based company has issued 115,764 shares, or about 0.1 percent of Vista, at a nominal price of $5.91 apiece, putting a $684,000 value on Senda, which resells the New Zealand firm's Vista Entertainment Solutions and Movio services in Central and South America. That's a 7.1 percent premium to the $5.52 price Vista's shares last traded at.

The deal will boost Vista's revenue and generate incrementally positive earnings before interest, tax, depreciation and amortisation, which is tracking within guidance, it said.

Senda will be renamed Vista Latin America and continue to be run by founders Armando Mejias and Gustavo Ortega, who will report to Vista Entertainment Solutions chief executive Kimbal Riley.

"Senda joining Vista Group and the consequent formation of Vista Latin America will enable Vista directly engage with the burgeoning Latin American market and in particular enable closer relationships with three of the world's largest cinema exhibitors," Riley said in a statement.

Vista is scheduled to report first-half earnings on Thursday, and Forsyth Barr analyst James Bascand is forecasting a 92 percent gain in profit to $5.1 million on a 23 percent lift in revenue to $50.2 million.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

The cinema software firm has been bolting on new acquisitions since it went public in 2014 and last year bought a 50 percent stake in London-based marketing firm Powster, a half-share of Dutch software developer Share Dimension, and 100 percent of New Zealand's flicks.co.nz, which provides information about movie sessions. It also embarked on a joint-venture with China's Beijing Weying Technology Co (WePiao), whose backers include the Wechat/Tencent Group, which the Kiwi company expects will expand its footprint in the Chinese film-going market.

(BusinessDesk)

ends

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.