TECHNICOLOR : TECHNICOLOR ACQUIRES VISUAL EFFECTS LEADER IN ADVERTISING THE MILL FOR ?259 MILLION
(Thomson Reuters ONE) -
TECHNICOLOR ACQUIRES VISUAL EFFECTS LEADER IN ADVERTISING THE MILL FOR
?259 MILLION
Technicolor to achieve its Drive 2020 Adjusted EBITDA objective by 2017
Paris (France), September 15, 2015 - Technicolor (Euronext Paris: TCH; OTCQX:
TCLRY) announces today the acquisition of London-based The Mill, the world's
largest visual effects and content creation studio for the advertising industry,
for ?259 million on a debt-free basis.
Founded in 1990, The Mill is consistently recognized by peers and clients as a
premier visual effects provider for both advertising agencies and brands, and
has earned in excess of 1,000 industry awards. It has operations in the key
markets of London, New York, Los Angeles and Chicago.
This acquisition accomplishes many objectives set out in Technicolor's Drive
2020 strategic roadmap:
* Establishes leadership positions for visual effects and digital creation
across all segments of high-end content, including cinema, TV and
advertising;
* Reinforces Technicolor's strong portfolio of brands including MPC, Mr. X and
Mikros Image servicing a broad range of customers across 10 global
locations;
* Brings significant talent and expertise around emerging technologies such as
virtual reality content that will enable Technicolor's to enhance its
technology platform across the entire industry;
* Adds significant financial contribution with a business that has grown
revenues at a 16% CAGR since 2009 to reach ?135 million in 2014 while
delivering EBITDA margins of approximately 20%;
* Allows Production Services to better balance its portfolio through increased
exposure to advertising and strengthens the financial profile of the
Entertainment Services segment. With this acquisition Production Services
accounting for approximately 40% of Entertainment Services revenues.
"In acquiring The Mill, we are executing on our Drive 2020 strategic objective
of enhancing our market position in visual effects while improving profitability
and revenue growth concurrently with accelerating deployment of emerging
technologies," said Technicolor CEO, Frederic Rose. "In The Mill, we have found
a company that aligns with our focus on excellence in talent, technology and
operational performance. It is a perfect fit."
With these two transactions, the Adjusted EBITDA floor that Technicolor has set
for 2020 (at least ?500 million) as part of its Drive 2020 strategic roadmap
will be achieved by 2017 while maintaining a strong cash flow generation. The
transaction combined with the acquisition of Cisco Connected Devices will
translate into high double digit EPS accretion for the full year 2016. The
Company will update its Drive 2020 financial objectives concurrent with its full
year 2015 results.
Frederic Rose, CEO, and Esther Gaide, CFO, will hold a conference call and an
audio webcast today, Tuesday September 15(th), 2015 at 6:30pm (CEST).
About Technicolor
Technicolor, a worldwide technology leader in the media and entertainment
sector, is at the forefront of digital innovation. Our world class research and
innovation laboratories enable us to lead the market in delivering advanced
video services to content creators and distributors. We also benefit from an
extensive intellectual property portfolio focused on imaging and sound
technologies, based on a thriving licensing business. Our commitment: supporting
the delivery of exciting new experiences for consumers in theaters, homes and
on-the-go. www.technicolor.com
Follow us: (at)Technicolor - linkedin.com/company/technicolor
Technicolor shares are on the NYSE Euronext Paris exchange (TCH) and traded in
the USA on the OTCQX marketplace (OTCQX: TCLRY).
Media Contacts
Sandra Carvalho: +1 323 208 2624
sandra.carvalho(at)technicolor.com
Investor Relations
Emilie Megel: +33 1 41 86 61 48
emilie.megel(at)technicolor.com
Laurent Sfaxi: +33 1 41 86 58 83
laurent.sfaxi(at)technicolor.com
PDF version:
http://hugin.info/143597/R/1952236/710048.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: TECHNICOLOR via GlobeNewswire
[HUG#1952236]
Unternehmensinformation / Kurzprofil:
Datum: 15.09.2015 - 17:40 Uhr
Sprache: Deutsch
News-ID 420268
Anzahl Zeichen: 5272
contact information:
Town:
Issy-les-Moulineaux Cedex
Kategorie:
Business News
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