In recent years, more and more synergies have developed between PRG and our German subsidiary Cinegate. The especially strongly growing market of virtual productions in the segments film, TV series and advertising have shown us that a closer interlocking of the services between PRG and Cinegate make sense for the future and is in line with the times. 
 
In order to clearly communicate this closer cooperation and the strong partnership in to the market, we have jointly decided that Cinegate would appear as PRG Cinegate on the market in the future. We will support this development by hiring another managing director from 2022 who will be working hand in hand with Martin Abert to enhance and accelerate our growth efforts. We will follow up with another press release on this in the foreseeable future.
 
Martin Abert (Managing Director Cinegate):
"The merger is the logical and consistent step for the joint future, with the aim of a concentrated orientation and focus on the strongly growing streaming market. Along with this, we will increasingly use our synergies to expand the growth market of virtual productions." 
 
Udo Willburger (CSO PRG Germany): 
"Together with Cinegate, we have greatly expanded our know-how in the important virtual production market in recent years and together we now operate several studios. At PRG, we see a strong growth market in both areas – scripted and non-scripted – TV & Film, in which we want to further expand our market position and make our joint technical expertise even better available to our customers. The new name PRG Cinegate is intended to communicate this clearly to the market."
 
Cinegate GmbH has locations in almost all German federal states and studios in Hamburg, Berlin and Cologne. Cinegate is a technical full-service provider for cinema, advertising and TV productions and operates an extensive rental of state-of-the-art cameras, lighting, grip as well as generators and trucks. The studios vary in size depending on location and are suitable for productions of all sizes.