- Film industry software provider Vista Group International (VGL) signs a major Latin American cinema chain to its Vista Cloud platform
- Under the 10-year deal, Vista will transition over 300 sites from an existing major enterprise client to its cloud platform over time
- The commercial terms of the deal are confidential and subject to final terms and conditions, but Vista says the “transformational project” will commence in the third quarter of 2022
- Once fully rolled out, the cinema circuit will become one of Vista’s largest clients globally
- VGL last traded at $1.40 per share on May 27
Film industry software provider Vista Group International (VGL) has signed a major Latin American cinema chain to its Vista Cloud platform.
While the commercial terms of the agreement are confidential and subject to final terms and conditions, Vista said under the 10-year deal, it would transition over 300 sites from an existing major enterprise client to its cloud platform over time.
The project will commence in the third quarter of 2022.
Vista said that once fully rolled out, the agreement was expected to result in the cinema chain becoming one of Vista’s largest clients globally.
CEO Kimbal Riley said the “fantastic” deal was a strong vote of confidence for the Vista Cloud platform.
“The agreement is in line with our expected SaaS revenues, and in 2022 and 2023, we will be very focussed on bringing this client, and others in the pipeline, on board,” Mr Riley said.
“We are especially excited to be bringing Vista Digital and Movio EQ to life in this circuit; delivering measurable value quickly is one of the key benefits of our new cloud technology.”
Vista Digital is an omnichannel self-service platform designed by Vista for cinemas, and Movio EQ is the company’s marketing and analytics service.
VGL last traded at $1.40 per share on May 27.