Mumbai : Travel Solutions provider Thomas Cook India Group has announced its acquisition of a 51% stake in Digiphoto Entertainment Imaging (DEI), one of the world’s leading imaging solutions and services providers at an enterprise value of US $40.6 Million (Rs 289 crores). The transaction is subject to regulatory approvals and customary closing conditions.
The acquisition marks the Thomas Cook India Group’s entry into an adjacent sector, complementary to its travel & travel related services portfolio and is both PAT and free cash accretive from day one.
Established in 2004, Digiphoto Entertainment Imaging is a technology driven company with offices in Singapore, Dubai, Mumbai, Orlando, Hong Kong and Kuala Lumpur. DEI focuses on imaging solutions for the attractions industry with a robust end-to-end turnkey model by providing equipment, software, talent and operational expertise consultation to its business partners.
With a strong network of over 120 partners, DEI is present at more than 250 venues spanning over 14 countries (Singapore, UAE, Hong Kong SAR, Macau SAR, China, USA, Malaysia, Thailand, Indonesia, Mauritius, Maldives, Egypt, India and Kuwait), and has completed 3.6 million transactions in 2018.
“Our acquisition of DEI, a global imaging solutions and services giant, presents the Thomas Cook India Group an opportunity to participate in an exciting new business space, adjacent to our core travel services portfolio that is both PAT and free cash accretive from day one. DEI is an entrepreneurial success story with an impressive and proven track record of leadership, growth and profitability” Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) Limited said.