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Barco strengthens commitment to cinema and fully acquires Cinionic

Barco has reached an agreement with China Film Equipment Co., Ltd. (CFEC) to fully acquire Cinionic’s cinema solutions business. The integration of Cinionic’s business aims to allow Barco to operate in the cinema market with greater operational efficiency and agility to adapt effectively to market dynamics and customer needs. Barco will now fully consolidate this business in its financial results.

Following the transaction and from 2024 onwards, Cinionic’s current sales, marketing and service activities will be fully integrated into Barco’s Cinema business unit, a part of the Entertainment division. This business unit will continue to be led by Gerwin Damberg. Wim Buyens will continue to work with Barco and support a smooth transition of the cinema business.

In China, both companies will continue to operate their joint venture CFG Barco to serve the Chinese market with laser cinema technology and with dedicated sales, marketing and service activities for mainland China. The ownership structure of the CFG Barco joint venture remains unchanged with CFEC and Barco owning 51 percent and 49 percent of the shares respectively.

www.barco.com

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