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Cineplex Entertainment buys EK3 Technologies
Toronto-based Cineplex Entertainment has acquired digital merchandising company EK3 Technologies of London, ON. The company will be renamed Cineplex Digital Networks. It will continue to be headed by president Nick Prigioniero. The subsidiary specializes in the design and installation of in-store digital merchandising systems, as well as content creation and media sales. It's clients include Tim Hortons, McDonalds, Walmart, Target, RBC Financial Group and BMO Financial Group. "The combination of our new company's proprietary technology, network management capability and award winning creative services and digital merchandising expertise are a great complement to our existing digital signage business," said Ellis Jacob, president and CEO of Cineplex Entertainment. The purchase price consists of an initial payment of $39 million, plus a second payment due in 2016 that will bring the total price to a maximum of $78 million.