UFO Moviez India Limited has informed the Exchange regarding 'Press Release' titled Scrabble Entertainment DMCC, a Wholly Owned Subsidiary of UFO Moviez India Limited and Shenzhen Timewaying Technology Co. Ltd. enters into a strategic tie-up .
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Awaiting price reaction for this filing.
UFO Moviez India Limited has announced a strategic tie-up between its wholly owned subsidiary, Scrabble Entertainment DMCC (based in Dubai), and Shenzhen Timewaying Technology Co. Ltd. of China. Scrabble Entertainment operates in the digital cinema technology and projector solutions space, while Shenzhen Timewaying is a known manufacturer of DCI-compliant laser projectors used in theatres. The partnership is expected to bring advanced cinema projection technology to Scrabble's markets in the Middle East and other regions. This move aligns with UFO Moviez's broader strategy of strengthening its cinema technology and equipment distribution business beyond India.
This tie-up could expand Scrabble's product portfolio with next-gen laser projection technology and open new revenue streams, but the financial impact and deal terms have not been disclosed, so short-term stock reaction is likely to be muted.