Cineplex Entertainment is paying $3.3-million to acquire New Way Sales Games Ltd., the company that supplies its arcade games.
Canada's largest movie theatre chain said Tuesday that the purchase was being made from its former owners, Roynat Capital Inc. and Knight's Bridge Capital Partners Inc. The transaction has a targeted closing date in late May.
New Way supplies arcade games to Cineplex theatres, as well as numerous other social spaces such as amusement centres, bowling alleys and amusement parks. The Toronto-based company said it will continue to offer the same services to its customers after the acquisition is complete.
Cineplex Galaxy, which converted from an income fund to a corporation in January, operates Cineplex Entertainment which runs 130 theatres located from British Columbia to Quebec with about 1,352 screens that include digital projection, Imax screens and its UltraAVX screen and sound systems.