SINGAPORE (Aug 30): Event and exhibition services provider Cityneon Holdings is making its third intellectual property (IP) acquisition by purchasing a 100% stake in JP Exhibitions from its owners for US$25 million ($34 million).

This will grant the company IP rights to Jurassic World: The Exhibition – a licensed spin-off from the blockbuster movie, Jurassic World – in partnership with Universal Studios Licensing.

JP Exhibitions secured the rights to Jurassic World: The Exhibition through a global licence between Imagine Exhibitions and Universal Licensing, and has been touring the exhibition since 2016.

The exhibition is expected to hit the 1 million visitor milestone in Chicago, US, where it is currently based until Jan 7 next year.

In a press release on Wednesday, Cityneon says the acquisition, which it intends to fund with existing cash and bank borrowings, also marks the group’s third time being associated a blockbuster movie franchise.  

Previously, the company acquired the IP rights to Disney’s Marvel Avengers S.T.A.T.I.O.N. and launched the attraction in seven cities across three continents. It also owns the rights to Hasbro’s Transformers Autobot Alliance, which is ̧scheduled to be premiered in mainland China in end 2017.

“We are thrilled to be part of Universal Studio’s Jurassic World franchise, and we can’t wait to bring this immersive attraction to even more markets, around Asia and the rest of the world,” says Ron Tan, executive chairman and group CEO of Cityneon.

“To enable Jurassic World – The Exhibition to reach even more people, we will begin to construct a second immersive experience set immediately,” he adds.

Shares in Cityneon closed 3 cents higher at $1.01 on Wednesday.