Valuable Group Officially Completes Acquisition of MovieBeam

Leading India-Based Media Company Plans to Transform MovieBeam's Groundbreaking Video on Demand Service


SEATTLE & LOS ANGELES & MUMBAI, India--(BUSINESS WIRE)--The Valuable Group (http://www.valuablegroup.com), a leading Mumbai-based media and technology company, has completed a transaction to purchase the assets of pioneering video on demand (VOD) service, MovieBeam, including all trademarks, technology, and alliances. The announcement was made today by Sanjay Gaikwad, Founder and Managing Director, Valuable Group, who also led the deal. Initially launched by Disney in 2005, MovieBeam was conceived as an on-demand service to wirelessly download movies into customers' homes via a set-top box. Through this acquisition, the Valuable Group will invest capital, management and technology resources to transform the existing MovieBeam platform to serve the hospitality entertainment industries, with a partnership program that offers programming distribution to content providers and owners. The Valuable Group, known for its success in rapidly building and operating numerous media and entertainment initiatives, also pioneered and runs the largest satellite based digital cinema network in the world (UFO Moviez). With multiple offices worldwide, Valuable has now expanded its presence to include Los Angeles and a state-of-the-art development MovieBeam facility in Seattle. The company plans an initial investment of $100 million over the next two years for MovieBeam's relaunch in North America, the United Kingdom and other overseas markets. Plans also include delivering films in High Definition, and offering viewers access to library films as well as the latest releases. "This acquisition is a strategic fit in our global expansion strategy for our Media and Entertainment practice. Through MovieBeam, Valuable will further establish itself as a leader in the media and entertainment space by allowing us to deliver content to homes and the hospitality industry worldwide," said Gaikwad. Ameya Hete, Executive Director, Valuable Group and CEO MovieBeam, who is spearheading this initiative, said: "This service will completely redefine the on-demand entertainment market. We are adding cutting-edge features to the MovieBeam service that will bring additional and currently unrealized revenues back to the entertainment industry and the deserving constituents." Disney spun-off MovieBeam in January 2006 and in March 2007 Movie Gallery, Inc. acquired MovieBeam. The Valuable group acquired MovieBeam through Dar Capital Ltd., which handled the complete acquisition process on behalf of Valuable Group. About Valuable Group The Valuable Group of Companies operates in primarily three industry verticals - media, technology and infrastructure. Valuable has many firsts to its credit. After launching India's first Infrastructure Business Process Platform for the gaming industry, Valuable Group went on to launch UFO Moviez, India's first and the world's largest digital cinema network servicing over 1,200 theatres. Valuable Group has made pioneering technology-based business innovations the cornerstone of the group's success formula. UFO has been acclaimed by the film fraternity and has won several accolades and awards internationally including: * IIFA award for Technology Innovation in Indian Cinema at Yorkshire 2007. * Technopreneur of the year award at Global Entrepolis @ Singapore - a joint award by the Asian Wall Street Journal and the Government of Singapore. * Nominated for the E & Y entrepreneur of the year award. About Dar Capital DAR Capital is a boutique private equity advisory firm focused primarily on investment opportunities in the emerging markets of India, Middle East, and South East Asia. The main objective of the firm is to provide advisory services to private equity players, venture capitalists, management teams, and other such entities looking for the right investments for their funds or seeking to exit their existing investments in these markets. As part of this strategy the firm also acts as local advisors to international funds looking to enter the Indian market in the areas of media, technology, infrastructure development, real estate etc. DAR Capital's clientele include domestic and foreign financial institutions, government institutions, high net worth individuals and banks.