Providence invests in India’s UFO Moviez
Providence Equity Partners has invested INR2.6 billion ($58.3 million) to become the largest shareholder in digital cinema company, UFO Moviez. UFO is the world's largest satellite-based digital cinema service with close to 2,500 installations across India and will be using the infusion to fund roll-out of 3D systems in more than 1,000 screens in the country.
According to India press reports, UFO Moviez will use the new capital for acquisitions and expansion, including purchase of a stake in Scrabble Entertainment, which installs digital cinema systems that...
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