Phoenix-based Najafi Cos. announced that its Toronto-based Cinram Group is expected to close the deal for JAI, the games software division of JVC Americas Corp. The deal is excepted to be complete within 30 days. Financial terms of the deal were not disclosed. JAI provides manufacturing and fulfillment for software and video-game publishers, as well as turnkey solutions for packaging, shipping and inventory management.
“Video games are one of the pillars of our global media business,” said Steve Brown, CEO of Cinram. “This acquisition supports our games group significantly and allows us to further develop our offerings to our media clients.”
“JVC America furthers Cinram’s leading position in the multimedia industry,” said Najafi Cos. CEO Jahm Najafi. “This acquisition allows Cinram to continue to lead the industry and strengthen its supply chains while expanding capabilities.”
In the past year, Najafi has consolidated its holdings to focus on entertainment properties and services with Cinram, whose last acquisition took place in September when it bought Saffron Digital for $47 million from smartphone maker HTC.
Source: Biz Journals