Sharechat Logo

Vista buys controlling stake in Latin American reseller Senda for $684k

Monday 21st August 2017

Text too small?

Vista Group International has bought a 60 percent stake in Mexico's Senda Direccion Tecnologica, giving it control of the Latin American reseller of the cinema analytics firm's services. 

The Auckland-based company has issued 115,764 shares, or about 0.1 percent of Vista, at a nominal price of $5.91 apiece, putting a $684,000 value on Senda, which resells the New Zealand firm's Vista Entertainment Solutions and Movio services in Central and South America. That's a 7.1 percent premium to the $5.52 price Vista's shares last traded at. 

The deal will boost Vista's revenue and generate incrementally positive earnings before interest, tax, depreciation and amortisation, which is tracking within guidance, it said. 

Senda will be renamed Vista Latin America and continue to be run by founders Armando Mejias and Gustavo Ortega, who will report to Vista Entertainment Solutions chief executive Kimbal Riley. 

"Senda joining Vista Group and the consequent formation of Vista Latin America will enable Vista directly engage with the burgeoning Latin American market and in particular enable closer relationships with three of the world's largest cinema exhibitors," Riley said in a statement. 

Vista is scheduled to report first-half earnings on Thursday, and Forsyth Barr analyst James Bascand is forecasting a 92 percent gain in profit to $5.1 million on a 23 percent lift in revenue to $50.2 million. 

The cinema software firm has been bolting on new acquisitions since it went public in 2014 and last year bought a 50 percent stake in London-based marketing firm Powster, a half-share of Dutch software developer Share Dimension, and 100 percent of New Zealand's, which provides information about movie sessions. It also embarked on a joint-venture with China's Beijing Weying Technology Co (WePiao), whose backers include the Wechat/Tencent Group, which the Kiwi company expects will expand its footprint in the Chinese film-going market.


Bond Offer: Infratil Ltd, 7.2 year & 10.2 year unsecured unsubordinated bond

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar sags after avalanche of data and central bank action
Fonterra board starts planning chair succession
Fulton Hogan keeps Australian civil construction unit
Time for congestion pricing has come - NZIER
Colliers defends KiwiBuild as 'far from a colossal failure'
Pushpay shares rise as cost-cutting upgrades earnings guidance
20th September 2019 Morning Report
NZ dollar weaker against British pound on EC president's Brexit optimism
Todd plans Kapuni drilling campaign
MARKET CLOSE: NZ shares gain; appetite for KFC helps Restaurant Brands hit record

IRG See IRG research reports