Vista Group International signs major Chinese supply deal
By Paul McBeth
Oct. 2 (BusinessDesk) - Vista Group International, the cinema software and analytics company, has signed a supply agreement with an unidentified cinema chain in China, which will see its software installed across more than 200 sites in the world's most populous nation.
The details of the deal are commercially sensitive, and revenue derived from the new client form part of Vista's prospectus forecast when it lodged its offer document in July, it said in a statement. The Auckland-based company expects annual revenue of $49.9 million in calendar 2014, rising to $61.5 million in the 2015 financial year.
"The signing of the deal is significant for Vista and strategic in terms of the Chinese market," director finance and legal Brian Cadzow said.
Vista listed on the NZX in August after raising $92 million in an initial public offer, of which $40 million was new capital to fund its plans for global growth. Within that new capital, Vista earmarked about $15.4 million for new acquisitions and developments, targeting emerging markets such as Brazil, Russia, China and Indonesia.
The shares last traded at $2.95, up from the $2.35 IPO price.