Thomas Cook India Group is acquiring a 51% share in the Dubai-based digital imaging solutions company, Digiphoto Entertainment Imaging (DEI).
DEI provides innovative, digital imaging services to the attractions industry.
The $40.6 million investment marks Thomas Cook India’s entry into an adjacent sector, corresponding with the group’s travel-related services portfolio.
Madhaven Menon, Thomas Cook India’s chairman and managing director, spoke of the opportunities the acquisition will create for the group, including how it will enhance their partnership with theme parks and other entertainment resorts.
“Our acquisition of DEI, a global imaging solutions and services giant, presents the Thomas Cook India Group an opportunity to participate in an exciting new business space, adjacent to our core travel services portfolio that is both PAT and free cash accretive from day one.
“We see an immediate opportunity for our outbound customers from India and Hong Kong, as well as our inbound and DMS customers across our global network.
“With the growing demand for experiential travel and social sharing, DEI’s partnerships with attractions, theme parks, water parks and resorts will further enhance our travel services portfolio in line with our philosophy of creating long-term shareholder value,” said Menon.
DEI was established in 2004. The technology-driven imaging providers for the attractions industry has offices in Dubai, Hong Kong, Mumbai, Singapore, Kuala Lumpur and Orlando.
In 2018, DEI completed 3.6 million transactions around the world and is currently present at more than 250 venues across 14 countries.
