TORONTO — Cineplex Entertainment Limited Partnership (TSX:CGX.UN) has agreed to buy DDC Group International Inc. and its subsidiaries, operators of digital signage networks and related products and services.
The pricetag of the deal, announced Thursday, is $3.5 million.
DDC is a Waterloo, Ont.-based digital company that designs, installs, maintains and operates digital signs in retail, financial, hospitality and entertainment markets.
“DDC is a recognized leader in designing, implementing and maintaining service-based digital signage networks across North America,” Ellis Jacob, president and CEO of Cineplex Entertainment, said in a release before stock markets opened Thursday.
“Acquiring DDC enables us to further expand our existing Cineplex Digital Media business.”
Stuart Kirkpatrick, president of DDC, said the deal with Canada’s largest movie theatre company will provide growth opportunities for his signage firm.
“By joining forces with Cineplex Digital Media, we unite with a company that shares our passion for digital signage whose strength, national reach and immense expertise positions us to deliver even greater growth and success to our clients and their networks.”
The acquisition is expected to close July 2.