Cineplex Inc. and VRstudios Inc. Announce Partnership
TORONTO, Sept. 13, 2018 /CNW/ -(TSX: CGX), Cineplex , a leading entertainment and media company, today announced a strategic partnership with VRstudios, Inc. ("VRstudios"), the largest provider of turnkey, location-based virtual reality solutions in the world.The agreement includes a commercial partnership andan investment by Cineplex to acquire a significant ownership interest in VRstudios.The financial terms were not disclosed.
- TORONTO, Sept. 13, 2018 /CNW/ -(TSX: CGX), Cineplex , a leading entertainment and media company, today announced a strategic partnership with VRstudios, Inc. ("VRstudios"), the largest provider of turnkey, location-based virtual reality solutions in the world.The agreement includes a commercial partnership andan investment by Cineplex to acquire a significant ownership interest in VRstudios.The financial terms were not disclosed.
- We are proud to be leading the way in the burgeoning location-based VR market," said Ellis Jacob, President and CEO, Cineplex.
- "VRstudios' product portfolio base has obvious application opportunities across the Cineplex ecosystem, and we are particularly excited about growth opportunities for Player One Amusement Group."
- Cineplex also operates successful businesses in digital commerce (CineplexStore.com), food service, alternative programming (Cineplex Events), cinema media (Cineplex Media), digital place-based media (Cineplex Digital Media), amusement solutions (Player One Amusement Group) and an online eSports platform for competitive and passionate gamers (WorldGaming.com).