Nomura takes stake in India's Real Image
Funding will 'accelerate growth,' co-founder saysNEW DELHI -- Japan's Nomura has acquired an undisclosed stake for $16 million in India's Real Image Media Technologies Pvt. Ltd., a leading provider of digital media and entertainment technology.
Nomura's Hong Kong-based Asia merchant banking division is taking the stake in RIMT, which offers digital cinema solutions in India and 16 countries. It has installed more than 700 systems for clients, including 59-screen U.S. art house chain Landmark Theatres.
RIMT also owns U.S.-based digital cinema solutions subsidiary Qube Cinema Inc. and is among a handful of companies worldwide providing Digital Cinema Initiative-compliant solutions approved by the Hollywood studios.
"This funding will help (RIMT) accelerate the growth it is seeking in India and other markets across the globe," Real Image co-founder Jayendra Panchapakesan told The Hollywood Reporter.
Nomura's investment is part of a $25 million round in which Intel Capital, an existing investor in RIMT, also is participating, Panchapakesan said.