XDC Secures Eur 15.3 Million Growth Capital

XDC, European leader in digital cinema distribution services, has taken a major step forward in order to execute its strategy to deploy and service more than 8,000 digital cinema screens across Europe by 2015.

XDC is the first company to have VPF digital cinema deployment agreements with all 6 major US film studios for a total of 8,000 digital screens in 22 European countries. VPFs (Virtual Print Fees) allow cinema exhibitors to invest in digitalisation with the financial support of the film studios, throughout XDC, deploying entity. XDC's VPF agreements make it the largest player in the roll-out of digital cinema in Europe.

As only 5% of the European movie screens have already been digitalized, digital cinema is expected to grow tremendously in the coming years, thanks to the VPF system and a strong market demand for 3D movies and alternative content.

The new EUR 15.3 million funding by Gimv, SRIW and selected existing investors, provides the company with the funds to finance its growth in the coming years. Founding partner EVS remains the most important investor with a 30.2% fully diluted stake (41.3% not diluted) while SRIW and Gimv become cornerstone investors with a 20.7% and 20.2% stake (fully diluted) respectively.

Source: DCinemaToday