K Sera Sera Digital Cinema Pvt Ltd, a wholly-owned subsidiary of KSS Ltd, is acquiring Digital Cinema and Technology India Pvt Ltd (DCAT) for an undisclosed amount, as per a stock market disclosure.
This will make it one of the strongest players offering full HD e-cinema services delivered through the satellite in India and the third-largest player in e-cinema theatre network.
Founded in 2010, Mumbai-based DCAT provides e-cinema services through digital projection with the help of high-speed networks. It is led by chief executive Krishna Pal.
K Sera Sera Ltd was established in 1995 as Garnet Paper Mills Ltd and got renamed as K Sera Sera Production Ltd in 2002. After diversifying its activities in other sectors it was renamed as K Sera Sera Ltd in 2011. It is now operating as KSS Ltd.
It is into various spheres of film business, including production, distribution, exhibition and digital cinema and education.
It has produced various movies of Bollywood director cum producer Ram Gopal Varma including Sarkar besides distributing several others across languages. It also runs miniplexes for cinema exhibition which doubles up for distance learning through satellite transmission. It also has high definition cinema projection technology via satellite, under SkyCinex brand. In the past it had also diversified beyond the entertainment sector to buy a stake in an Australian gold mine company Citigold.
Another firm in the digital cinema space is UFO Moviez India, which is engaged in distribution and exhibition of films, trailers, advertisements and other audio and visual programmes to theaters using digital technology. It counts 3i and Providence Equity Partners as its PE investors.
Last year UFO Moviez India increased its stake in Manmohan Shetty-promoted digital cinema systems provider Scrabble Entertainment by 24 per cent, taking its total holding to 76 per cent.
(Edited by Joby Puthuparampil Johnson)