On October 16, 2025, Creative Realities, Inc. (CRI), a leading digital signage and AdTech provider, entered into a share purchase agreement to acquire Cineplex Digital Media (CDM), an indirect wholly-owned subsidiary of Cineplex Inc., for CAD 70 million in cash, subject to customary post-closing adjustments. The transaction closed in November 7, 2025 and is set to double CRI’s size and broaden its North American footprint.

CDM posted nearly CAD 56 million in 2024 sales and is projected to grow by 25% in 2025. The company operates in over 6,000 locations and 30,000 endpoints, serving clients such as Scotiabank, RBC, AMC Theatres, Tim Horton’s, and the North Carolina Education Lottery. More than 60% of CDM’s revenue is recurring, with about 84% of 2024 sales from Canada. The acquisition includes Canada’s largest mall-based Digital Out-of-Home (DOOH) media network, spanning 95 shopping destinations and servicing approximately 750 million shopper visits annually.

CRI expects annualized cost synergies of at least CAD 10 million by the end of 2026. The acquisition was financed through a three-year, USD 36 million (approx. CAD 49.5 million) senior term loan from First Merchants Bank and USD 30 million (approx. CAD 41.3 million) of convertible preferred equity from North Run Capital LP. Craig-Hallum acted as Exclusive Placement Agent, and Goodmans LLP advised Cineplex.