PARIS, Nov. 13, 2015 (GLOBE NEWSWIRE) -- Technicolor (Euronext Paris: TCH; OTCQX: TCLRY) announced today that it has added the replication and distribution of packaged media products of two large customers to its North American portfolio. The volume of packaged media generated by these customers substantially increases Technicolor's revenue base in the DVD Services division.
In order to support these customers, Technicolor has acquired for approximately €40 million relevant North American optical disc manufacturing and distribution assets from Cinram Group, Inc. The transaction has been entirely funded out of available cash, with no impact to Technicolor's Adjusted EBITDA and Free Cash Flow objectives for 2015. At least €190 million in annualized revenues will be added to Technicolor's Entertainment Services segment.
The transaction will also allow Technicolor to serve additional customers in North America and thus enhance market-leading support to an expanded customer base. Additionally, this will bolster the long-term continuity and efficiency of the packaged media supply chain for Technicolor and its customers in North America.
Technicolor, a worldwide technology leader in the media and entertainment sector, is at the forefront of digital innovation. Our world class research and innovation laboratories enable us to lead the market in delivering advanced video services to content creators and distributors. We also benefit from an extensive intellectual property portfolio focused on imaging and sound technologies, based on a thriving licensing business. Our commitment: supporting the delivery of exciting new experiences for consumers in theaters, homes and on-the-go.
Technicolor shares are on the NYSE Euronext Paris exchange (TCH) and traded in the USA on the OTCQX marketplace (OTCQX: TCLRY).
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