Theatre systems maker Imax Corp (TSE:IMX) said Monday that it has inked a deal with Caspian Capital to open the first Imax theatre in Azerbaijan.
The Imax theatre will be installed in the capital city of Baku, into a new construction project that is expected to open in October 2012.
"We are proud to be the first to bring IMAX to audiences in Azerbaijan," said Caspian Capital's general director, Emin Mammadov.
Caspian Capital is an investment group that is building a chain of modern multiplex theatres in Azerbaijan, as well as other related businesses such as game zones, cafes and restaurants.
Today's deal brings the total Imax theatres opened or contracted to open in Russia and the Commonwealth of Independent States (CIS) to 50.
Imax, with headquarters in Toronto, Los Angeles and New York, said that as of March 31, there were 643 Imax theatres operating in 52 countries, in markets such as North America, Western Europe, Japan, China, and Russia.
"IMAX's slate of Hollywood blockbusters coupled with its immersive format is sure to thrill fans and revolutionize the movie-going experience for audiences across the country."