Arts Alliance Media (AAM), has been acquired by Sandong Luxin-Rio Visual Technology Co., Ltd a Chinese based company. Luxin-Rio was established in 2013 in Qingdao, Shandong Province by Shandong Luxin Culture Industry Venture Capital Co., Ltd and Guangzhou Rio Tech Optics Co., Ltd and provides turnkey solutions for entertainment equipment. Luxin-Rio’s primary businesses include the in-house R&D, manufacturing and sales of 3D/4D cinema systems, integration services of cinema equipment and software along with interactive technologies like VR/E-sports.
The acquisition of AAM is seen as a complement to the existing Luxin-Rio portfolio and will be the first venture into software solutions. AAM will therefore be forming the basis of Luxin-Rio’s strategy of bringing innovative software to the global cinema market.
Mr. Jiang Dong, Chairman of Luxin-Rio Group, said “This is a very exciting time for Luxin-Rio. The opportunity to acquire a quality asset such as AAM does not come up very often. We have been very impressed with what AAM has been able to achieve, its customer base, its product lines and the quality of its people. Our mission is to service the cinema industry globally with great technology and AAM is a major piece of the puzzle in achieving that goal.”
John Aalbers, CEO at AAM, commented ”This is an excellent result for AAM and for our staff, customers and partners alike. Luxin-Rio has the ambition and resources to take AAM to the next level of global expansion. With Luxin-Rio’s help, AAM is now very well placed to innovate further and drive the cinema software evolution in a post Virtual Print Fee (VPF) world by bringing more value creating software solutions to our customers”.
The acquisition will be revenue and earnings enhancing for the Luxin-Rio group and will consolidate Luxin-Rio’s position as a major provider of leading cinema technologies.
Luxin-Rio plans to immediately leverage its existing presence in China to increase AAM’s sales reach as well as its deployment and support capabilities for the region. AAM already has a number of customers in China, including Wanda Cinema Line. AAM believes it will be able to build on that success with Luxin-Rio’s support and strong local presence. Outside of China, AAM will continue to service its customers from its headquarters in London and its emerging presence in North America.
