Quickflix acquires online DVD rental company

Perth-based online home entertainment company Quickflix Limited has acquired 100 per cent of the shares in online DVD rental competitor Homescreen.
The terms of the purchase remain confidential with completion of the acquisition expected to occur prior to Christmas.
Quickflix co-founder and CEO Stephen Langsford said the deal would double the size of Quickflix's subscriber base from 4000 to 8000 and further strengthen its position in the Australian online home entertainment and DVD rental market.

"We see this as being our most significant event in the past three years," he said.
Mr Langsford said the Homescreen acquisition significantly boosts Quickflix's market standing.
"We are the leading independent player in Australia which is a great result for our subscribers," he said. "We are now the emerging force in the online home entertainment market."

Mr Langsford said Quickflix was attracting distribution partners such as ninemsn, Yahoo!, Fairfax, Optus and wishlist.com.au.
"Importantly, the deal with Homescreen enables Quickflix to gain critical mass leveraging off our highly sophisticated infrastructure and service," he said. "We've made a substantial investment in developing our IT platform and customer interface."
Mr Langsford said the enlarged group's key focus would be to continue to build a loyal subscriber base.