London-based cinema software solution provider Arts Alliance Media (AAM) has been acquired by Shangdong Luxin-Rio Visual Technology, a cinema technology solutions company in Qingdao, China.
Founded in 2013, Luxin-Rio is a joint venture company of Shangdong Luxin Culure Industry Venture Capital Co., Ltd and Guangzhou Rio Tech Optics Co., Ltd.
Luxin-Rio’s primary businesses include the in-house R&D, manufacturing and sales of 3D/4D cinema systems, integration services of cinema equipment and software, and interactive technologies like VR/E-sports. Luxin-Rio also has controlling shares in MediaMation Inc. (global leader in 4D technology from USA) and Volfoni S.A.S. (world-leading 3D technology brand from France).
On the cinema exhibition side, Luxin-Rio has a controlling share in TCL Chinese Theatre (USA). Shangdong Luxin Culure also owns a cinema chain in China, Shangdong Luxin Circuit, with 20 self-invested cinemas, and another 50 cinemas joined as franchise.
The acquisition of AAM is a major step for Luxin-Rio. It entered the cinema software solutions business for the first time, and the entrance is strong. AAM already provides business and mission critical solutions to over 80 major exhibitors worldwide (over 40,000 screens), and this is includes over half of the world’s top 10 exhibitors.