Pyramid Saimira acquires FunAsia in US

Mumbai: Pyramid Saimira Theatre Limited (PSTL) has entered the US market with the acquisition of Texas-based FunAsiA. The acquisition was made through its subsidiary Pyramid Saimira Entertainment America.

Pyramid Saimira is targeting 80 to 90 per cent of share in the Asian film market.

As the US and Canada were the second major overseas market for Hindi and South Indian films, the company had planned to set up 60 screens at 15 locations in those countries by the end of the current fiscal, P S Saminathan, managing director, PSTL said.

FunAsiA complexes included a total of 17 screens with 4,765 seats and catered to South Asians in North America, PSTL said, adding PSTL would make a foray into the UK market in Q3.