The Canal+ Group is to buy a 70% majority stake in SPI International, the company behind a host of streaming brands, including Filmbox and Docustream.
Canal+ says the existing SPI management team, including Founder and CEO Loni Farhi & Berk Uziyel, and operational structure will remain in place.
In a joint statement Loni Farhi & Berk Uziyel said: “It is very exciting news and the start of a new era for SPI International. Canal+ and SPI share a common vision for continuous growth and a strong international presence.
“We have been strategic partners for years, where we have built a great tradition of collaborations and achieving mutual goals. Now we will have the chance to join forces under one roof. SPI will further accelerate its growth with Canal+ while leveraging natural synergies.
“Our joined forces will strengthen the existing entertainment products and expand the distribution of our compelling content to far larger audiences.”
Maxime Saada, CEO of Canal+ Group, added: “The acquisition of SPI International is part of the strategy we have been implementing for several years.
“Canal+ currently has 22 million subscribers in over 40 countries, including 15 in Europe. We have set ourselves the goal of reaching a minimum of 30 million subscribers by 2025, and SPI International will certainly be a key asset in achieving this ambition.”
Jacques du Puy, CEO of Canal+ International said: “We are very pleased to welcome SPI to our group. This acquisition marks a new strategic step for the development of our European contents.
“It will be a great opportunity to develop new synergies and businesses for our activities, especially in the Polish market and in the Central and Eastern European countries where Canal+ operates through M7 brands.”