Click here to close now.




















Welcome!

Mobile IoT Authors: Liz McMillan, Elizabeth White, Patrick Hubbard, Kevin Benedict, Sam Ganga

News Feed Item

Consortium of media entrepreneur Paul Heth and private equity funds lead investment into Russia's Karo Film Group

Funding will help Karo Film develop into the leading chain in Russia's fast growing cinema market

MOSCOW, Dec. 13, 2012 /PRNewswire/ -- A consortium backing the Moscow based media entrepreneur Paul Heth and consisting of the lead investor Baring Vostok Private Equity, UFG Private Equity and the Russian Direct Investment Fund, announces an investment in Karo Film, one of Russia's leading cinema chains.  The consortium will acquire a controlling shareholding in the company and will additionally support a circa $100 million investment initiative to open new multiplex cinema venues under the Karo brand over the next three years.

(Photo: http://photos.prnewswire.com/prnh/20121213/SF29279)

Paul Heth has been appointed as Chief Executive Officer of Karo Film. Mr. Heth brings 20 years of development and senior operating experience in the international and Russian cinema industry.  Mr. Ogorodnikov and his business partner Oleg Andreev, co-founders of Karo Film will both retain significant stakes in the business. Mr. Ogorodnikov will also continue to serve as its Chairman.

Paul Heth, said: "I am looking forward to working with Leonid Ogorodnikov, and I am excited that with the backing of three of Russia's leading private equity firms Karo is now positioned to lead the next phase of development of the Russian cinema industry.  We will immediately make a substantial investment into Karo's existing infrastructure to improve and upgrade Karo's 3D and large format digital projection capacity, improve its food and beverage offerings and will work to enhance the efficiency of the company's overall operations.  In the near future we will also be announcing a number of new locations to include the largest cinema developments ever undertaken in Russia."

Leonid Ogorodnikov, Chairman of Karo, said: "I was extremely impressed with the caliber of the investment group assembled by Mr. Heth, all of whom are focused on long term value creation.  We are very proud that since our founding in 1997 we have grown Karo Film into a major player in the Russian cinema sector.  Russia is now one of the world's most important and fastest growing movie and digital entertainment markets.  With this announcement we are positioned to take Karo to the next level."

Russia is one of the world's top ten largest theatrical exhibition markets with box office takings in 2012 expected to exceed $1.3bn and forecast to grow strongly into the medium term.

About Karo
The Karo Film Group was founded in 1997.  It established new standards in Russia for movie theatres. Today, Karo Film is a leading motion picture exhibition company owning and operating 31 modern movie theatres comprising of 197 screens in Moscow, the Moscow region, St. Petersburg, Nizhniy Novgorod, Samara, Kazan, Kaliningrad and Surgut and serves nearly 12 million visitors per year, with forecasted sales in 2012 of approximately $190 million.

About Paul Heth
Mr. Heth is widely credited with the revitalization of the Russian cinema sector.  In 1993 Mr. Heth co-founded and operated Russia's first two modern style cinemas.  In 1996 Mr. Heth co-founded Kodak Kinomir, which under his leadership was one of the highest grossing and most profitable cinemas in the world.  In 2000 Mr. Heth partnered with the American media conglomerate National Amusements (parent company of Viacom and CBS) to design, build and operate unique "next generation" multiplex cinemas in Los Angeles and Philadelphia.  In 2002 Mr. Heth with Shari E. Redstone and National Amusements co-founded Kinostar Delux cinemas in Russia, which generated close to 10% of the Russian national box office.  Mr. Heth led a successful trade sale of the company in June of 2011.  In addition to his activities in theatrical exhibition, Mr. Heth and partners and Sony Pictures Entertainment formed Monumental Pictures in 2005 to produce, market and distribute local language feature films for the Russian theatrical film market. 

Appendix

Top films in Russia: Year to Date 2012 by box office results

Title

Studio

BO  USD $

1.   Ice Age: Continental Drift               

FOX

50, 078, 212

2.   Madagascar 3

DreamWorks Animation

49, 363, 745

3.   The Avengers

Paramount

43, 677, 418

4.   The Twilight Saga: Breaking Dawn-Part 2

Summit

41, 028, 673

5.   Men in Black III

Sony

36, 541, 051

6.   John Carter

Disney

33, 369, 163

7.   Skyfall

Sony/MGM

25, 068, 646

8.   Wrath of the Titans

Warner Brothers

22, 262, 485

9.   Battleship

Universal

21, 998, 643

10. Sherlock Holmes: A Game of Shadows

Warner  Brothers

21, 963, 254

About Baring Vostok
Baring Vostok is one of the leading private equity firms operating in Russia and the CIS. Baring Vostok Private Equity funds have invested over 2 billion USD in more than 60 companies since 1994, and currently have committed capital of 3.7 billion USD.  The fund's portfolios were diversified among financial services, oil and gas, consumer products, telecommunications, and media sectors, including СТС Media, Golden Telecom, Yandex, Ozon, Gallery Group, Centre of Financial Technologies, Enforta, ER-Telecom, 1C, Burren Energy, Volga Gas, Zhaikmunai, Novomet, Kaspi Bank, Orient Express Bank, Europlan, EMC and others.  The investment advisor of the funds, Baring Vostok Capital Partners (Guernsey) has been voted "Russian Private Equity Firm of the Year" by the readers of Private Equity International and Private Equity Online every year since 2005.  The sub-advisor of BVCP has a branch office in Moscow with a team of 30 experienced investment professionals. Baring Vostok is a member of Baring Private Equity International, a global private equity group with more than $12 billion USD of capital under management by affiliates in CIS, Asia, India, Europe and Latin America. www.bvcp.ru

About UFG Private Equity
UFG Private Equity is part of UFG Asset Management group, a leading Russian-region focused alternative asset manager advising on $1.5 billion in assets across debt and equity hedge funds, mutual funds, managed accounts, real estate/agriculture funds and tradition private equity funds.  UFG Private Equity funds invest in companies primarily in Russia as well as the neighboring CIS countries.  UFG backs exceptional management teams in businesses with clear growth opportunities and where there is an opportunity to significantly increase equity value for shareholders.  Since its inception in 2005, UFG Private Equity has participated in 18 investments with an aggregate transaction value of over $1 billion. Additional information is available at www.ufgam.com

About RDIF
Russian Direct Investment Fund (RDIF), established in June 2011, is to be capitalized with $10 billion in Russian government funds to make equity investments that generate strong returns.  In each investment it makes, the RDIF is mandated to secure co-investment that as a minimum matches its commitment, thus acting as a catalyst for direct investment into the Russian economy.  The RDIF's Management Company is a 100% subsidiary of Vnesheconombank (VEB). Additional information is available at www.rdif.ru

Contacts for additional information:

For Karo-Film:
Tim Warner Jr.
Mob: +1 406 461 4618
Strategies 360
[email protected]

For the RDIF:
Andrew Hayes/Andrew Leach/Maria Ignatova/Elena Kuza
Hudson Sandler
Tel +44 (0) 20 7796 4133

SOURCE Karo Film Group

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes about through a Communications Platform as a Service which allows for messaging, screen sharing, video...
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of IoT applications and projects. Business operations, IT, and data scientists need advanced analytics t...
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater.
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device access to health records while reducing operating costs and complying with government regulations.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...