Twickenham Film Studios Chair Buys 6.95 Percent Stake in APX Group
Summary
It added: The terms and conditions of this transaction reflect a market cap of \xa3950 Million for APX Group, enabled also by a robust series of acquisition and strategic deals undertaken by APX Group during the last few months.The firm has struck a series of acquisition agreements, bringing together production facilities, production slates, visual effects companies and distribution platforms. It recently signed a preliminary agreement to invest in L.A.-based Next Wave Studios, a joint venture of Decentralized Pictures and Bingeable.Hammond touted the remarkable experience and a deep commitment to production that Vohra brings to the company. APX Groups model has found tremendous success in identifying, partnering with and investing in industry-leading production studios and content facilities across North America, Europe and Asia Pacific. This strategic partnership enables us to accelerate our efforts in building out a world-class network of content facilities spanning film, TV, animation and more as we prepare to go public later this year.Added APX chairman Adi Cohen: Sunny is a personal friend and trusted business associate of mine for many years. His incredible track record and business knowledge and experience will help immensely with the challenges and tasks laying ahead for APX while becoming a public company and a world leader in its field.Vohra, who is involved in various commercial and property ventures in London, said: The business structure of APX fits well into my future investment strategy and, of course, my consistent support of the entertainment industry.