Huayi Brothers eyes 79% stake in GDC

Huayi Brothers International Investment Limited announced Tuesday that it plans to acquire 79 percent of equities of GDC Technology Limited, a leading global digital cinema solutions provider.

Huayi Brothers International Investment Limited, a unit of China's Huayi Brothers Media Corp, became one of the shareholders of Hong Kong-based GDC Technology in April last year after purchasing 9 percent of its stake. Huayi International currently owns 11.99 percent of shares of GDC Technology.

The equity acquisition signals that Huayi International is aiming to build cooperation with major screen markets in the world. GDC Technology manufactures and sells digital cinema servers and suite of digital cinema products of global top cinemas.

GDC Technology achieved revenues of $36.4 million in the first half of 2014, and a profit of $5.9 million, according to the company.